American Superconductor (NASDAQ:AMSC) Trading Up 9.3% – Here’s Why

American Superconductor Co. (NASDAQ:AMSC)’s stock price was up 9.3% during trading on Monday . The stock traded as high as $21.72 and last traded at $21.69. Approximately 125,144 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,062,874 shares. The stock had previously closed at $19.84.

Analyst Upgrades and Downgrades

Separately, Oppenheimer increased their price objective on shares of 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 Stock Down 0.5 %

The company has a market cap of $847.60 million, a PE ratio of 306.90 and a beta of 2.45. The firm has a 50 day simple moving average of $25.19 and a 200-day simple moving average of $26.12.

American Superconductor (NASDAQ:AMSC) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that American Superconductor Co. will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMSC. Wellington Management Group LLP acquired a new stake in American Superconductor during the 4th quarter worth about $11,360,000. Raymond James Financial Inc. acquired a new stake in American Superconductor during the fourth quarter worth about $10,188,000. Arrowstreet Capital Limited Partnership purchased a new position in American Superconductor during the fourth quarter valued at approximately $7,310,000. Balyasny Asset Management L.P. acquired a new position in American Superconductor in the fourth quarter valued at approximately $5,886,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of American Superconductor by 211.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock worth $7,187,000 after purchasing an additional 206,655 shares during the period. 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.