American Superconductor (NASDAQ:AMSC) Trading Up 4.3% – What’s Next?

American Superconductor Co. (NASDAQ:AMSC)’s share price rose 4.3% during trading on Wednesday . The stock traded as high as $23.82 and last traded at $23.58. Approximately 252,421 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 972,429 shares. The stock had previously closed at $22.60.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Craig Hallum reissued a “buy” rating and set a $33.00 price objective on shares of American Superconductor in a research report on Tuesday, September 10th. Roth Mkm reiterated a “buy” rating and set a $29.00 price target on shares of American Superconductor in a research report on Monday, September 30th.

American Superconductor Trading Down 6.5 %

The company has a 50 day moving average of $21.25 and a 200-day moving average of $19.78.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC acquired a new stake in shares of American Superconductor in the 1st quarter valued at $21,870,000. Assenagon Asset Management S.A. raised its stake in American Superconductor by 643.4% in the second 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. Baillie Gifford & Co. lifted its holdings in American Superconductor by 21.1% during the 1st quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock worth $34,134,000 after buying an additional 440,271 shares during the last quarter. AWM Investment Company Inc. boosted its position in shares of American Superconductor by 19.4% during the 1st quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock worth $35,954,000 after acquiring an additional 433,018 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of American Superconductor by 30.5% in the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock valued at $22,953,000 after acquiring an additional 396,814 shares during the last quarter. Hedge funds and other institutional investors own 52.28% 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 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.