American Superconductor (NASDAQ:AMSC) Shares Up 7.5% – What’s Next?

American Superconductor Co. (NASDAQ:AMSC)’s share price shot up 7.5% during trading on Wednesday . The company traded as high as $29.08 and last traded at $29.06. 935,116 shares were traded during mid-day trading, a decline of 13% from the average session volume of 1,069,937 shares. The stock had previously closed at $27.04.

Wall Street Analysts Forecast Growth

AMSC has been the subject of several research analyst reports. Craig Hallum reaffirmed a “buy” rating and issued a $33.00 price objective on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm reiterated a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Price Performance

The firm has a 50-day moving average of $28.24 and a 200-day moving average of $24.67. The stock has a market cap of $1.14 billion, a PE ratio of -540.80 and a beta of 2.21.

Institutional Trading of American Superconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank bought a new stake in shares of American Superconductor in the second quarter worth about $28,000. nVerses Capital LLC purchased a new stake in shares of American Superconductor during the 2nd quarter worth approximately $42,000. CWM LLC bought a new position in shares of American Superconductor during the 3rd quarter valued at approximately $57,000. Quest Partners LLC purchased a new position in shares of American Superconductor in the third quarter valued at $88,000. Finally, Canada Pension Plan Investment Board bought a new stake in American Superconductor in the second quarter worth $96,000. 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.