American Superconductor (NASDAQ:AMSC) Trading 4.2% Higher

American Superconductor Co. (NASDAQ:AMSC) traded up 4.2% during trading on Monday . The stock traded as high as $23.18 and last traded at $22.95. 116,151 shares were traded during trading, a decline of 88% from the average session volume of 951,792 shares. The stock had previously closed at $22.03.

Analyst Ratings Changes

Several brokerages have issued reports on AMSC. Roth Mkm raised their price target on American Superconductor from $27.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Craig Hallum reiterated a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research report on Tuesday, September 10th. Finally, Oppenheimer boosted their price objective on shares of American Superconductor from $16.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, May 31st.

American Superconductor Price Performance

The firm has a market cap of $909.78 million, a P/E ratio of -57.54 and a beta of 2.13. The firm has a fifty day simple moving average of $22.29 and a 200-day simple moving average of $18.99.

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

Institutional Trading of American Superconductor

A number of large investors have recently bought and sold shares of AMSC. AWM Investment Company Inc. increased its holdings 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 buying an additional 433,018 shares during the last quarter. Baillie Gifford & Co. raised its position in American Superconductor by 21.1% during the first quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after purchasing an additional 440,271 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in shares of American Superconductor by 7.2% in the 2nd quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company’s stock worth $40,582,000 after purchasing an additional 116,207 shares in the last quarter. Vanguard Group Inc. increased its position in shares of American Superconductor by 30.5% during the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock valued at $22,953,000 after purchasing an additional 396,814 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of 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 buying an additional 914,872 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 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.