American Superconductor (NASDAQ:AMSC) Shares Up 10.7% – Here’s Why

American Superconductor Co. (NASDAQ:AMSC) shares were up 10.7% on Thursday . The stock traded as high as $26.56 and last traded at $26.00. Approximately 759,223 shares were traded during trading, a decline of 23% from the average daily volume of 982,584 shares. The stock had previously closed at $23.48.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AMSC shares. Craig Hallum reaffirmed a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research note on Tuesday, September 10th. Roth Mkm reaffirmed a “buy” rating and set a $29.00 price target on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Stock Performance

The company has a market cap of $916.44 million, a price-to-earnings ratio of -66.33 and a beta of 2.14. The firm has a fifty day moving average price of $22.15 and a 200 day moving average price of $20.90.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.09. The company had revenue of $40.29 million during the quarter, compared to the consensus estimate of $39.55 million. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. On average, analysts expect that American Superconductor Co. will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On American Superconductor

Large investors have recently made changes to their positions in the stock. Amalgamated Bank acquired a new stake in shares of American Superconductor in the 2nd quarter valued at approximately $28,000. nVerses Capital LLC acquired a new stake in American Superconductor during the 2nd quarter valued at $42,000. CWM LLC acquired a new stake in American Superconductor during the 3rd quarter valued at $57,000. Canada Pension Plan Investment Board acquired a new stake in American Superconductor during the 2nd quarter valued at $96,000. Finally, Virtu Financial LLC acquired a new stake in American Superconductor during the 1st quarter valued at $152,000. 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.