American Superconductor (NASDAQ:AMSC) Stock Price Down 4.7% – Here’s What Happened

American Superconductor Co. (NASDAQ:AMSC) dropped 4.7% during mid-day trading on Wednesday . The company traded as low as $31.73 and last traded at $32.09. Approximately 610,701 shares traded hands during trading, a decline of 42% from the average daily volume of 1,053,227 shares. The stock had previously closed at $33.68.

Analyst Upgrades and Downgrades

AMSC has been the subject of a number of recent research reports. Craig Hallum reissued a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research report on Tuesday, September 10th. Roth Mkm reissued a “buy” rating and set a $29.00 price target on shares of American Superconductor in a research report on Monday, September 30th.

American Superconductor Stock Performance

The business’s 50 day simple moving average is $26.86 and its two-hundred day simple moving average is $23.63.

Institutional Trading of American Superconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. bought a new stake in American Superconductor during the 3rd quarter valued at about $781,000. Barclays PLC increased its stake in American Superconductor by 376.2% during the 3rd quarter. Barclays PLC now owns 58,328 shares of the technology company’s stock valued at $1,377,000 after purchasing an additional 46,080 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of American Superconductor by 4.5% in the third quarter. Geode Capital Management LLC now owns 847,412 shares of the technology company’s stock worth $20,003,000 after acquiring an additional 36,511 shares during the period. Main Management ETF Advisors LLC bought a new stake in shares of American Superconductor in the third quarter worth approximately $806,000. Finally, State Street Corp grew its stake in shares of American Superconductor by 18.3% in the third quarter. State Street Corp now owns 906,250 shares of the technology company’s stock worth $21,388,000 after acquiring an additional 140,106 shares during the period. 52.28% of the stock is currently owned by institutional investors.

American Superconductor Company Profile

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.