American Superconductor Co. (NASDAQ:AMSC – Get Free Report) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 2,030,000 shares, an increase of 21.6% from the May 31st total of 1,670,000 shares. Based on an average trading volume of 659,900 shares, the short-interest ratio is presently 3.1 days.
American Superconductor Stock Down 3.6 %
Shares of AMSC opened at $23.39 on Monday. American Superconductor has a 52-week low of $5.75 and a 52-week high of $27.38. The firm has a market capitalization of $865.43 million, a PE ratio of -59.97 and a beta of 2.08. The firm has a 50-day moving average price of $17.87 and a 200 day moving average price of $14.23.
American Superconductor (NASDAQ:AMSC – Get Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. American Superconductor had a negative net margin of 7.63% and a negative return on equity of 4.26%. The business had revenue of $42.03 million during the quarter, compared to analysts’ expectations of $36.75 million. On average, equities analysts expect that American Superconductor will post -0.04 EPS for the current year.
Insider Activity at American Superconductor
Institutional Trading of American Superconductor
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Psagot Value Holdings Ltd. Israel acquired a new position in American Superconductor during the fourth quarter worth about $33,000. AJOVista LLC acquired a new position in shares of American Superconductor in the 4th quarter worth approximately $69,000. Virtu Financial LLC bought a new stake in shares of American Superconductor in the 1st quarter worth approximately $152,000. Hillsdale Investment Management Inc. acquired a new stake in American Superconductor during the first quarter valued at approximately $153,000. Finally, Citigroup Inc. bought a new stake in American Superconductor during the third quarter worth approximately $92,000. Institutional investors own 52.28% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Oppenheimer increased their price objective on shares of American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Craig Hallum lifted their price target on American Superconductor from $16.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Roth Mkm increased their price objective on American Superconductor from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, June 13th.
Check Out Our Latest Report on American Superconductor
About American Superconductor
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.
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