American Superconductor (NASDAQ:AMSC) Trading Down 3.7% – What’s Next?

American Superconductor Co. (NASDAQ:AMSC)’s share price traded down 3.7% during mid-day trading on Friday . The stock traded as low as $25.22 and last traded at $25.51. 119,347 shares were traded during trading, a decline of 89% from the average session volume of 1,076,163 shares. The stock had previously closed at $26.48.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AMSC shares. Craig Hallum reaffirmed a “buy” rating and issued a $33.00 price objective on shares of American Superconductor in a research report on Tuesday, September 10th. Roth Mkm restated a “buy” rating and set a $29.00 price objective on shares of American Superconductor in a report on Monday, September 30th.

American Superconductor Price Performance

The firm has a market cap of $968.57 million, a price-to-earnings ratio of -490.90 and a beta of 2.21. The business’s 50-day moving average price is $28.90 and its two-hundred day moving average price is $25.22.

Hedge Funds Weigh In On American Superconductor

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in American Superconductor by 524.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 122,239 shares of the technology company’s stock valued at $2,859,000 after purchasing an additional 102,652 shares during the period. nVerses Capital LLC bought a new stake in American Superconductor during the second quarter worth approximately $42,000. Lisanti Capital Growth LLC bought a new position in American Superconductor during the 2nd quarter valued at $1,462,000. Hussman Strategic Advisors Inc. increased its position in shares of American Superconductor by 20.0% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the technology company’s stock valued at $2,947,000 after purchasing an additional 21,000 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of American Superconductor by 3,234.0% in the second quarter. Rhumbline Advisers now owns 46,276 shares of the technology company’s stock valued at $1,082,000 after buying an additional 44,888 shares during the period. 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.