Oppenheimer Issues Positive Forecast for American Superconductor (NASDAQ:AMSC) Stock Price

American Superconductor (NASDAQ:AMSC) had its price objective lifted by equities researchers at Oppenheimer from $29.00 to $33.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective indicates a potential upside of 28.93% from the stock’s previous close.

Separately, Roth Mkm reaffirmed a “buy” rating and set a $29.00 target price on shares of American Superconductor in a research report on Monday, September 30th.

American Superconductor Price Performance

Shares of AMSC opened at $25.60 on Tuesday. American Superconductor has a 1 year low of $10.19 and a 1 year high of $38.02. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -523.90 and a beta of 2.28. The business has a 50-day moving average of $28.70 and a 200-day moving average of $25.60.

Institutional Trading of American Superconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in AMSC. Spire Wealth Management boosted its holdings in shares of American Superconductor by 17.7% in the 4th quarter. Spire Wealth Management now owns 17,517 shares of the technology company’s stock worth $431,000 after purchasing an additional 2,628 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of American Superconductor in the 4th quarter worth about $279,000. KBC Group NV purchased a new position in shares of American Superconductor in the 4th quarter worth about $2,492,000. PFG Investments LLC purchased a new position in shares of American Superconductor in the 4th quarter worth about $280,000. Finally, Campbell Newman Asset Management Inc. purchased a new position in shares of American Superconductor in the 4th quarter worth about $1,483,000. 52.28% of the stock is currently owned by institutional investors.

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.