American Superconductor (NASDAQ:AMSC) Trading Up 7.3% – What’s Next?

American Superconductor Co. (NASDAQ:AMSC)’s share price rose 7.3% during mid-day trading on Tuesday . The company traded as high as $18.61 and last traded at $18.82. Approximately 272,067 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,055,426 shares. The stock had previously closed at $17.54.

Analyst Upgrades and Downgrades

Separately, Oppenheimer upped their price target on shares of American Superconductor from $33.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th.

American Superconductor Price Performance

The stock has a 50-day simple moving average of $26.50 and a 200-day simple moving average of $26.04. The stock has a market cap of $735.53 million, a PE ratio of 266.32 and a beta of 2.45.

American Superconductor (NASDAQ:AMSC) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. As a group, equities research analysts anticipate that American Superconductor Co. will post 0.41 EPS for the current year.

Hedge Funds Weigh In On American Superconductor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gen Wealth Partners Inc purchased a new stake in shares of American Superconductor during the fourth quarter valued at approximately $58,000. SBI Securities Co. Ltd. purchased a new stake in American Superconductor during the 4th quarter worth $65,000. Jones Financial Companies Lllp lifted its holdings in American Superconductor by 1,083.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company’s stock worth $73,000 after buying an additional 2,708 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in American Superconductor by 8,670.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company’s stock valued at $73,000 after buying an additional 2,948 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in American Superconductor in the 3rd quarter valued at about $88,000. 52.28% of the stock is owned by institutional investors and hedge funds.

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.