American Superconductor Co. (NASDAQ:AMSC) Short Interest Up 28.3% in January

American Superconductor Co. (NASDAQ:AMSC) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 3,810,000 shares, an increase of 28.3% from the December 31st total of 2,970,000 shares. Based on an average daily volume of 1,390,000 shares, the short-interest ratio is presently 2.7 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position 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 valued at $7,187,000 after purchasing an additional 206,655 shares during the last quarter. Centiva Capital LP bought a new stake in American Superconductor during the third quarter valued at approximately $456,000. Main Management ETF Advisors LLC purchased a new stake in American Superconductor in the 3rd quarter worth $806,000. Lisanti Capital Growth LLC raised its holdings in American Superconductor by 110.2% during the third quarter. Lisanti Capital Growth LLC now owns 131,340 shares of the technology company’s stock valued at $3,100,000 after acquiring an additional 68,845 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in shares of American Superconductor during the third quarter worth about $781,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Oppenheimer boosted their target price on American Superconductor from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday.

American Superconductor Stock Up 3.6 %

Shares of NASDAQ AMSC traded up $0.94 during midday trading on Thursday, hitting $27.04. The stock had a trading volume of 121,974 shares, compared to its average volume of 885,490. The company has a market cap of $1.07 billion, a P/E ratio of -544.75 and a beta of 2.28. The business’s 50 day moving average is $28.50 and its 200-day moving average is $25.55. American Superconductor has a 52 week low of $10.19 and a 52 week high of $38.02.

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.