Roth Mkm raises its price target on American Superconductor (NASDAQ:AMSC) to $29.00

American Superconductor (NASDAQ:AMSC – Get a Free Report) had its price target raised by equities research analysts at Roth Mkm from $27.00 to $29.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Roth Mkm’s price objective would indicate a potential upside of 45.15% from the stock’s current price.

Separately, Oppenheimer boosted their price objective on shares of American Superconductor from $16.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, May 31st.

Check out our latest research report on AMSC

US superconductor trading down 1.7%

Shares of NASDAQ:AMSC traded down $0.34 during midday trading on Thursday, reaching $19.98. 789,330 shares of the company exchanged hands, compared to its average volume of 984,263. The company’s fifty day moving average is $24.62 and its two hundred day moving average is $17.24. American Superconductor has a one year low of $5.78 and a one year high of $32.70. The stock has a market cap of $739.22 million, a PE ratio of -51.23 and a beta of 2.17.

American Superconductor (NASDAQ:AMSC – Get Free Report ) last posted its earnings results on Wednesday, May 29th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. American Superconductor had a negative net margin of 7.63% and a negative return on equity of 4.26%. The firm had revenue of $42.03 million during the quarter, compared to analyst estimates of $36.75 million. As a group, sell-side analysts expect that American Superconductor will post -0.04 EPS for the current year.

Insider buying and selling

In related news, CEO Daniel P. Mcgahn sold 37,165 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total value of $806,108.85. Following the transaction, the chief executive officer now owns 1,019,956 shares of the company’s stock, valued at approximately $22,122,845.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Daniel P. Mcgahn sold 20,559 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total value of $304,684.38. Following the sale, the chief executive officer now directly owns 1,057,121 shares in the company, valued at approximately $15,666,533.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, CEO Daniel P. Mcgahn sold 37,165 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total transaction of $806,108.85. Following the completion of the sale, the chief executive officer now owns 1,019,956 shares in the company, valued at $22,122,845.64. The disclosure for this sale can be found here. Insiders have sold 118,724 shares of company stock worth $2,234,333 over the last 90 days. Company insiders own 4.40% of the company’s shares.

Institutional Commercialization of the American Superconductor

A number of institutional investors have recently bought and sold shares of AMSC. Psagot Value Holdings Ltd. Israel purchased a new position in American Superconductor during the fourth quarter valued at about $33,000. nVerses Capital LLC acquired a new position in shares of American Superconductor during the 2nd quarter valued at about $42,000. AJOVista LLC purchased a new position in shares of American Superconductor during the 4th quarter valued at approximately $69,000. Virtu Financial LLC purchased a new position in shares of American Superconductor in the first quarter valued at about $152,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of American Superconductor in the first quarter valued at about $153,000. 52.28% of the shares are currently owned by institutional investors and hedge funds.

About American Superconductor

(Get a free report)

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resistance solutions worldwide. The company operates in two segments, Grid and Wind. The Grid segment provides 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; and engineering planning services.

Further reading

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