American Superconductor (NASDAQ:AMSC) Trading 8.5% Higher – What’s Next?

Shares of American Superconductor Co. (NASDAQ:AMSC) shot up 8.5% during mid-day trading on Friday . The stock traded as high as $27.97 and last traded at $27.71. 160,914 shares traded hands during trading, a decline of 70% from the average session volume of 543,078 shares. The stock had previously closed at $25.55.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $29.00 target price on shares of American Superconductor in a report on Monday, September 30th. Craig Hallum restated a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research report on Tuesday, September 10th.

American Superconductor Trading Up 9.5 %

The business’s 50-day simple moving average is $29.06 and its 200-day simple moving average is $25.26. The company has a market cap of $1.10 billion, a PE ratio of -559.29 and a beta of 2.28.

Institutional Trading of American Superconductor

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in American Superconductor by 524.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 122,239 shares of the technology company’s stock worth $2,859,000 after purchasing an additional 102,652 shares during the last quarter. nVerses Capital LLC bought a new stake in American Superconductor in the second quarter valued at $42,000. Rhumbline Advisers boosted its stake in shares of American Superconductor by 3,234.0% in the 2nd quarter. Rhumbline Advisers now owns 46,276 shares of the technology company’s stock valued at $1,082,000 after purchasing an additional 44,888 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in American Superconductor by 158.2% during the 2nd quarter. Acadian Asset Management LLC now owns 124,488 shares of the technology company’s stock valued at $2,910,000 after purchasing an additional 76,270 shares during the last quarter. Finally, ClariVest Asset Management LLC raised its stake in shares of American Superconductor by 79.4% in the second quarter. ClariVest Asset Management LLC now owns 156,560 shares of the technology company’s stock valued at $3,662,000 after acquiring an additional 69,303 shares during the last quarter. Institutional investors and hedge funds 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.