American Superconductor (NASDAQ:AMSC) Trading Down 5.2% – Time to Sell?

American Superconductor Co. (NASDAQ:AMSC) shares traded down 5.2% during mid-day trading on Thursday . The company traded as low as $34.50 and last traded at $34.74. 140,440 shares were traded during trading, a decline of 86% from the average session volume of 1,031,724 shares. The stock had previously closed at $36.65.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMSC shares. Craig Hallum reaffirmed a “buy” rating and set a $33.00 price objective on shares of American Superconductor in a research report on Tuesday, September 10th. Roth Mkm reiterated a “buy” rating and set a $29.00 price target on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Price Performance

The stock has a market capitalization of $1.22 billion, a PE ratio of -663.27 and a beta of 2.14. The stock’s 50 day moving average is $24.34 and its two-hundred day moving average is $22.23.

Institutional Trading of American Superconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of AMSC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of American Superconductor during the 3rd quarter worth about $1,424,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in American Superconductor during the third quarter worth approximately $277,000. MetLife Investment Management LLC grew its position in shares of American Superconductor by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 19,786 shares of the technology company’s stock valued at $467,000 after buying an additional 11,149 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in American Superconductor by 12.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 44,075 shares of the technology company’s stock valued at $1,040,000 after acquiring an additional 4,929 shares during the last quarter. Finally, FMR LLC boosted its stake in American Superconductor by 828.6% in the third quarter. FMR LLC now owns 14,690 shares of the technology company’s stock valued at $347,000 after acquiring an additional 13,108 shares in the last quarter. 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.