Short Interest in American Superconductor Co. (NASDAQ:AMSC) Expands By 28.3%

American Superconductor Co. (NASDAQ:AMSC) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 3,810,000 shares, a growth of 28.3% from the December 31st total of 2,970,000 shares. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Investors Weigh In On American Superconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank purchased a new stake in American Superconductor during the second quarter valued at about $28,000. CWM LLC bought a new stake in shares of American Superconductor in the 3rd quarter valued at about $57,000. Quest Partners LLC purchased a new stake in American Superconductor during the 3rd quarter valued at about $88,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in American Superconductor during the 3rd quarter worth approximately $277,000. Finally, Heck Capital Advisors LLC bought a new stake in American Superconductor in the fourth quarter valued at approximately $279,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Oppenheimer increased their price objective on shares of American Superconductor from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday.

American Superconductor Stock Up 3.6 %

NASDAQ:AMSC traded up $0.94 during trading hours on Thursday, hitting $27.04. 121,974 shares of the company’s stock traded hands, compared to its average volume of 885,490. The business’s fifty day simple moving average is $28.50 and its two-hundred day simple moving average is $25.55. American Superconductor has a 52 week low of $10.19 and a 52 week high of $38.02. The firm has a market cap of $1.07 billion, a P/E ratio of -544.75 and a beta of 2.28.

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.