American Superconductor Co. (NASDAQ:AMSC – Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,910,000 shares, a growth of 10.2% from the September 15th total of 2,640,000 shares. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is presently 2.8 days.
Hedge Funds Weigh In On American Superconductor
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank bought a new position in American Superconductor in the 2nd quarter valued at approximately $28,000. nVerses Capital LLC bought a new position in American Superconductor in the 2nd quarter valued at approximately $42,000. CWM LLC bought a new position in American Superconductor in the 3rd quarter valued at approximately $57,000. Canada Pension Plan Investment Board bought a new position in American Superconductor in the 2nd quarter valued at approximately $96,000. Finally, Virtu Financial LLC bought a new position in American Superconductor in the 1st quarter valued at approximately $152,000. Institutional investors own 52.28% of the company’s stock.
American Superconductor Trading Down 2.3 %
Shares of American Superconductor stock opened at $23.27 on Wednesday. The company has a 50 day moving average of $21.41 and a 200-day moving average of $20.10. American Superconductor has a 1-year low of $5.78 and a 1-year high of $32.70. The company has a market cap of $860.94 million, a PE ratio of -59.67 and a beta of 2.14.
Analyst Upgrades and Downgrades
AMSC has been the subject of a number of recent research reports. Roth Mkm reissued a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a report on Monday, September 30th. Craig Hallum reaffirmed a “buy” rating and set a $33.00 price target on shares of American Superconductor in a report on Tuesday, September 10th.
Read Our Latest Report on AMSC
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.
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