American Superconductor (NASDAQ:AMSC) Trading Up 7.3% – Time to Buy?

American Superconductor Co. (NASDAQ:AMSC) shares rose 7.3% during trading on Tuesday . The stock traded as high as $18.61 and last traded at $18.82. Approximately 272,067 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,055,426 shares. The stock had previously closed at $17.54.

Wall Street Analyst Weigh In

Separately, Oppenheimer lifted their price target on American Superconductor from $33.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, February 7th.

American Superconductor Price Performance

The company has a market capitalization of $735.53 million, a PE ratio of 266.32 and a beta of 2.45. The stock has a 50-day simple moving average of $26.50 and a 200 day simple moving average of $26.04.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. As a group, research analysts predict that American Superconductor Co. will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Heck Capital Advisors LLC purchased a new position in American Superconductor during the fourth quarter worth $279,000. Palisades Investment Partners LLC boosted its stake in shares of American Superconductor by 9.5% during the fourth quarter. Palisades Investment Partners LLC now owns 142,415 shares of the technology company’s stock valued at $3,507,000 after acquiring an additional 12,317 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in American Superconductor by 21.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,274 shares of the technology company’s stock worth $1,805,000 after purchasing an additional 12,942 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in American Superconductor by 18.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,306 shares of the technology company’s stock valued at $549,000 after purchasing an additional 3,506 shares during the last quarter. Finally, Gen Wealth Partners Inc purchased a new position in American Superconductor in the 4th quarter valued at about $58,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

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.