American Superconductor (NASDAQ:AMSC) Stock Price Down 3.7% – Should You Sell?

American Superconductor Co. (NASDAQ:AMSC) dropped 3.7% during trading on Friday . The company traded as low as $25.22 and last traded at $25.51. Approximately 119,347 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,076,163 shares. The stock had previously closed at $26.48.

Wall Street Analyst Weigh In

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

American Superconductor Price Performance

The firm’s fifty day simple moving average is $28.90 and its 200 day simple moving average is $25.22. The company has a market capitalization of $968.57 million, a price-to-earnings ratio of -490.90 and a beta of 2.21.

Institutional Trading of American Superconductor

Several large investors have recently added to or reduced their stakes in AMSC. Amalgamated Bank acquired a new stake in American Superconductor during the 2nd quarter worth about $28,000. nVerses Capital LLC acquired a new stake in shares of American Superconductor during the second quarter worth approximately $42,000. CWM LLC purchased a new position in American Superconductor during the third quarter valued at approximately $57,000. Quest Partners LLC purchased a new stake in American Superconductor in the 3rd quarter worth approximately $88,000. Finally, Canada Pension Plan Investment Board purchased a new stake in American Superconductor in the 2nd quarter worth approximately $96,000. 52.28% of the stock is owned by institutional investors and hedge funds.

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.