American Superconductor (NASDAQ:AMSC) Stock Price Down 10.8% – Here’s What Happened

Shares of American Superconductor Corporation (NASDAQ:AMSC) fell 10.8% on Tuesday . The company traded as low as $52.70 and last traded at $52.3890. 533,867 shares changed hands during trading, a decline of 54% from the average session volume of 1,153,898 shares. The stock had previously closed at $58.72.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMSC. Wall Street Zen downgraded American Superconductor from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Zacks Research downgraded American Superconductor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings raised American Superconductor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

American Superconductor Trading Down 1.8%

The stock has a market capitalization of $2.60 billion, a PE ratio of 18.67 and a beta of 3.28. The firm has a 50 day moving average price of $39.00 and a 200 day moving average price of $35.91. The company has a quick ratio of 1.80, a current ratio of 2.66 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On American Superconductor

Several institutional investors have recently modified their holdings of AMSC. Lodestone Wealth Management LLC bought a new position in shares of American Superconductor in the fourth quarter valued at approximately $30,000. Rockefeller Capital Management L.P. grew its holdings in shares of American Superconductor by 45.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,563 shares of the technology company’s stock valued at $45,000 after acquiring an additional 492 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of American Superconductor in the fourth quarter valued at approximately $60,000. Canada Pension Plan Investment Board grew its holdings in shares of American Superconductor by 100.0% in the second quarter. Canada Pension Plan Investment Board now owns 2,000 shares of the technology company’s stock valued at $73,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its holdings in shares of American Superconductor by 275.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,625 shares of the technology company’s stock valued at $76,000 after acquiring an additional 1,925 shares in the last quarter. 52.28% of the stock is owned by institutional investors.

About American Superconductor

American Superconductor Corporation (NASDAQ:AMSC) is a technology company specializing in power electronics and high-temperature superconductor systems. Founded in 1987 and headquartered in Devens, Massachusetts, AMSC develops hardware and software solutions aimed at improving the efficiency, reliability and stability of electric power systems and renewable energy infrastructure. The company’s engineering expertise spans from the lab scale to full commercial deployment, with a focus on tackling grid integration challenges for utilities and independent power producers.

AMSC’s portfolio includes superconducting wire and cryogenic systems, power grid stabilization devices, and turnkey wind turbine electronics.