American Superconductor (NASDAQ:AMSC) Shares Down 11.1% – Time to Sell?

American Superconductor Co. (NASDAQ:AMSC) fell 11.1% on Thursday . The company traded as low as $28.33 and last traded at $27.95. 527,575 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 1,181,543 shares. The stock had previously closed at $31.45.

Analysts Set New Price Targets

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

American Superconductor Trading Down 8.1 %

The stock’s fifty day moving average price is $27.64 and its two-hundred day moving average price is $25.94. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 412.83 and a beta of 2.26.

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

Hedge Funds Weigh In On American Superconductor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Driehaus Capital Management LLC lifted its stake in shares of American Superconductor by 18.0% in the 4th quarter. Driehaus Capital Management LLC now owns 942,698 shares of the technology company’s stock worth $23,219,000 after acquiring an additional 143,936 shares during the period. State Street Corp boosted its holdings in shares of American Superconductor by 18.3% in the 3rd quarter. State Street Corp now owns 906,250 shares of the technology company’s stock valued at $21,388,000 after purchasing an additional 140,106 shares during the last quarter. Geode Capital Management LLC grew its position in American Superconductor by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 856,455 shares of the technology company’s stock valued at $21,099,000 after acquiring an additional 9,043 shares during the period. Dimensional Fund Advisors LP grew its stake in American Superconductor by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 654,299 shares of the technology company’s stock worth $16,117,000 after buying an additional 46,354 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of American Superconductor in the fourth quarter worth about $11,360,000. Hedge funds and other institutional investors own 52.28% of the company’s stock.

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.