American Superconductor (NASDAQ:AMSC) Given New $39.00 Price Target at Oppenheimer

American Superconductor (NASDAQ:AMSC) had its target price upped by equities researchers at Oppenheimer from $33.00 to $39.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price indicates a potential upside of 12.83% from the stock’s current price.

American Superconductor Trading Up 0.9 %

Shares of NASDAQ AMSC traded up $0.33 during trading on Friday, reaching $34.57. 1,605,390 shares of the company traded hands, compared to its average volume of 1,202,172. The stock has a market cap of $1.36 billion, a P/E ratio of -688.56 and a beta of 2.26. The firm’s fifty day simple moving average is $27.67 and its 200 day simple moving average is $25.51. American Superconductor has a 12-month low of $10.21 and a 12-month high of $38.02.

American Superconductor (NASDAQ:AMSC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. American Superconductor had a positive return on equity of 8.29% and a negative net margin of 0.49%. As a group, research analysts expect that American Superconductor will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC acquired a new position in shares of American Superconductor during the 3rd quarter worth about $57,000. SBI Securities Co. Ltd. acquired a new stake in American Superconductor during the 4th quarter worth $65,000. Jones Financial Companies Lllp grew its holdings in shares of American Superconductor by 1,083.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company’s stock worth $73,000 after buying an additional 2,708 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of American Superconductor by 8,670.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company’s stock valued at $73,000 after purchasing an additional 2,948 shares during the period. Finally, Quest Partners LLC acquired a new position in American Superconductor in the 3rd quarter valued at $88,000. 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.