American Superconductor (NASDAQ:AMSC) Trading Up 4.3% – Time to Buy?

American Superconductor Co. (NASDAQ:AMSC)’s share price was up 4.3% during mid-day trading on Wednesday . The company traded as high as $23.82 and last traded at $23.58. Approximately 252,421 shares traded hands during trading, a decline of 74% from the average daily volume of 972,429 shares. The stock had previously closed at $22.60.

Analysts Set New Price Targets

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

American Superconductor Stock Performance

The stock’s 50-day moving average price is $21.26 and its two-hundred day moving average price is $19.75. The stock has a market capitalization of $866.12 million, a PE ratio of -60.92 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC) last released its earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.55 million. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. On average, analysts predict that American Superconductor Co. will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Superconductor

Several hedge funds and other institutional investors have recently bought and sold shares of AMSC. Hood River Capital Management LLC bought a new position in American Superconductor during the 1st quarter valued at about $21,870,000. Assenagon Asset Management S.A. lifted its stake in American Superconductor by 643.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock valued at $24,725,000 after acquiring an additional 914,872 shares during the period. Baillie Gifford & Co. lifted its stake in shares of American Superconductor by 21.1% in the 1st quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock worth $34,134,000 after purchasing an additional 440,271 shares during the period. AWM Investment Company Inc. lifted its stake in shares of American Superconductor by 19.4% in the 1st quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock worth $35,954,000 after purchasing an additional 433,018 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of American Superconductor by 30.5% in the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock worth $22,953,000 after purchasing an additional 396,814 shares during the period. Institutional investors own 52.28% of the company’s stock.

American Superconductor Company Profile

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind. 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; and engineering planning services.