American Superconductor (NASDAQ:AMSC) Shares Pass Above Two Hundred Day Moving Average of $7.00

American Superconductor Co. (NASDAQ:AMSC) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.00 and traded as high as $9.28. American Superconductor shares last traded at $8.91, with a volume of 512,870 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Roth Mkm increased their price objective on American Superconductor from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. StockNews.com started coverage on shares of American Superconductor in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

American Superconductor Price Performance

The company has a 50 day simple moving average of $7.20 and a 200-day simple moving average of $7.02.

Hedge Funds Weigh In On American Superconductor

Large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its stake in shares of American Superconductor by 32.0% during the second quarter. Osaic Holdings Inc. now owns 4,654 shares of the technology company’s stock valued at $29,000 after buying an additional 1,129 shares during the last quarter. Northern Trust Corp lifted its position in American Superconductor by 2.3% in the second quarter. Northern Trust Corp now owns 53,946 shares of the technology company’s stock valued at $338,000 after purchasing an additional 1,203 shares during the last quarter. Royal Bank of Canada lifted its position in American Superconductor by 4.5% in the first quarter. Royal Bank of Canada now owns 50,048 shares of the technology company’s stock valued at $381,000 after purchasing an additional 2,136 shares during the last quarter. Journey Strategic Wealth LLC boosted its stake in shares of American Superconductor by 6.8% during the first quarter. Journey Strategic Wealth LLC now owns 37,375 shares of the technology company’s stock valued at $184,000 after purchasing an additional 2,375 shares during the period. Finally, UBS Group AG grew its holdings in shares of American Superconductor by 28.6% in the fourth quarter. UBS Group AG now owns 10,986 shares of the technology company’s stock worth $40,000 after purchasing an additional 2,445 shares during the last quarter. Hedge funds and other institutional investors own 43.23% 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.