American Superconductor (NASDAQ:AMSC) Shares Gap Down – Here’s What Happened

Shares of American Superconductor Co. (NASDAQ:AMSC) gapped down before the market opened on Monday . The stock had previously closed at $15.80, but opened at $14.04. American Superconductor shares last traded at $14.49, with a volume of 89,745 shares changing hands.

Analysts Set New Price Targets

Separately, Oppenheimer lifted their price objective on shares of American Superconductor from $33.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th.

American Superconductor Stock Performance

The stock has a 50 day moving average of $23.57 and a 200-day moving average of $25.94. The company has a market cap of $655.43 million, a PE ratio of 237.32 and a beta of 2.58.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. Equities research analysts forecast that American Superconductor Co. will post 0.41 EPS for the current year.

Institutional Trading of American Superconductor

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of American Superconductor by 211.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock worth $7,187,000 after purchasing an additional 206,655 shares during the last quarter. Centiva Capital LP purchased a new stake in American Superconductor in the 3rd quarter worth $456,000. Main Management ETF Advisors LLC acquired a new position in shares of American Superconductor during the 3rd quarter worth about $806,000. Franklin Resources Inc. purchased a new stake in American Superconductor during the 3rd quarter worth approximately $781,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of American Superconductor in the third quarter worth approximately $1,424,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

About American Superconductor

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates through Grid and Wind segments. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand.