American Superconductor (NASDAQ:AMSC) Shares Up 10.7% – Should You Buy?

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

Analysts Set New Price Targets

Several brokerages recently issued reports on AMSC. Craig Hallum reiterated a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research report on Tuesday, September 10th. Roth Mkm reiterated a “buy” rating and set a $29.00 price target on shares of American Superconductor in a research report on Monday, September 30th.

American Superconductor Stock Performance

The company has a market capitalization of $916.44 million, a price-to-earnings ratio of -66.33 and a beta of 2.14. The business’s 50-day simple moving average is $22.15 and its 200-day simple moving average is $20.90.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. 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 shares of American Superconductor in the 2nd quarter valued at approximately $42,000. CWM LLC acquired a new stake in shares of American Superconductor in the 3rd quarter valued at approximately $57,000. Canada Pension Plan Investment Board acquired a new stake in shares of American Superconductor in the 2nd quarter valued at approximately $96,000. Finally, Virtu Financial LLC acquired a new stake in shares of American Superconductor in the 1st quarter valued at approximately $152,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

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.