Oppenheimer Forecasts Strong Price Appreciation for American Superconductor (NASDAQ:AMSC) Stock

American Superconductor (NASDAQ:AMSC) had its price target hoisted by research analysts at Oppenheimer from $29.00 to $33.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 26.44% from the company’s previous close.

Separately, Roth Mkm reissued a “buy” rating and issued a $29.00 target price on shares of American Superconductor in a report on Monday, September 30th.

American Superconductor Stock Down 0.3 %

Shares of NASDAQ:AMSC opened at $26.10 on Tuesday. American Superconductor has a 52 week low of $10.19 and a 52 week high of $38.02. The company has a 50-day moving average price of $28.50 and a 200 day moving average price of $25.55. The company has a market cap of $1.03 billion, a P/E ratio of -521.90 and a beta of 2.28.

Institutional Investors Weigh In On American Superconductor

A number of institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank purchased a new position in shares of American Superconductor during the 2nd quarter worth approximately $28,000. Hsbc Holdings PLC purchased a new position in American Superconductor during the second quarter worth $313,000. Sei Investments Co. acquired a new position in shares of American Superconductor in the second quarter worth $562,000. The Manufacturers Life Insurance Company purchased a new stake in shares of American Superconductor in the second quarter valued at $307,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of American Superconductor by 453.8% during the second quarter. Point72 Asset Management L.P. now owns 20,490 shares of the technology company’s stock valued at $479,000 after acquiring an additional 16,790 shares during the last quarter. Institutional investors and hedge funds 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.