Insider Selling: American Superconductor Co. (NASDAQ:AMSC) CEO Sells $244,663.98 in Stock

American Superconductor Co. (NASDAQ:AMSC) CEO Daniel P. Mcgahn sold 7,689 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $31.82, for a total transaction of $244,663.98. Following the transaction, the chief executive officer now directly owns 1,296,797 shares in the company, valued at approximately $41,264,080.54. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

American Superconductor Price Performance

Shares of American Superconductor stock opened at $29.67 on Thursday. American Superconductor Co. has a one year low of $13.98 and a one year high of $38.02. The business has a 50-day simple moving average of $22.87 and a 200 day simple moving average of $24.80. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 423.92 and a beta of 2.87.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $66.66 million during the quarter, compared to analysts’ expectations of $60.27 million. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. American Superconductor’s quarterly revenue was up 58.6% compared to the same quarter last year. On average, sell-side analysts expect that American Superconductor Co. will post 0.41 EPS for the current year.

Institutional Investors Weigh In On American Superconductor

A number of institutional investors and hedge funds have recently bought and sold shares of AMSC. Truist Financial Corp bought a new position in shares of American Superconductor in the fourth quarter valued at approximately $251,000. Atria Wealth Solutions Inc. increased its position in shares of American Superconductor by 4.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 12,475 shares of the technology company’s stock valued at $307,000 after buying an additional 500 shares during the period. Private Advisor Group LLC bought a new stake in American Superconductor during the 4th quarter worth approximately $264,000. Deutsche Bank AG raised its position in shares of American Superconductor by 43.8% in the fourth quarter. Deutsche Bank AG now owns 32,913 shares of the technology company’s stock worth $811,000 after buying an additional 10,029 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of American Superconductor by 8.9% in the 4th quarter. Northern Trust Corp now owns 327,805 shares of the technology company’s stock valued at $8,074,000 after acquiring an additional 26,819 shares in the last quarter. 52.28% of the stock is owned by hedge funds and other institutional investors.

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.