American Superconductor (NASDAQ:AMSC) Trading 4.7% Higher – Here’s What Happened

American Superconductor Co. (NASDAQ:AMSC)’s share price traded up 4.7% during mid-day trading on Wednesday . The company traded as high as $27.34 and last traded at $27.14. 592,722 shares traded hands during trading, a decline of 45% from the average session volume of 1,077,298 shares. The stock had previously closed at $25.93.

Analyst Ratings Changes

AMSC has been the subject of several research reports. Craig Hallum restated a “buy” rating and issued a $33.00 price target on shares of American Superconductor in a research note on Tuesday, September 10th. Roth Mkm reissued a “buy” rating and set a $29.00 target price on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Stock Performance

The company has a market capitalization of $987.51 million, a PE ratio of -500.50 and a beta of 2.21. The stock’s 50-day simple moving average is $28.80 and its 200 day simple moving average is $25.08.

Institutional Investors Weigh In On American Superconductor

Institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank acquired a new stake in American Superconductor during the second quarter worth approximately $28,000. nVerses Capital LLC acquired a new position in American Superconductor in the second quarter valued at $42,000. CWM LLC purchased a new position in shares of American Superconductor during the third quarter worth about $57,000. Quest Partners LLC acquired a new stake in shares of American Superconductor during the third quarter worth about $88,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of American Superconductor in the 2nd quarter valued at about $96,000. Hedge funds and other institutional investors 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.