American Superconductor (NASDAQ:AMSC) Shares Up 7.5% – What’s Next?

American Superconductor Co. (NASDAQ:AMSC)’s stock price rose 7.5% during trading on Wednesday . The company traded as high as $29.08 and last traded at $29.06. Approximately 935,116 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 1,069,937 shares. The stock had previously closed at $27.04.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMSC. 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 reissued a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a research report on Monday, September 30th.

American Superconductor Stock Performance

The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -540.80 and a beta of 2.21. The stock’s 50 day simple moving average is $28.24 and its 200-day simple moving average is $24.67.

Institutional Trading of American Superconductor

Several large investors have recently made changes to their positions in the business. Franklin Resources Inc. purchased a new stake in shares of American Superconductor in the 3rd quarter valued at $781,000. Barclays PLC boosted its holdings in American Superconductor by 376.2% during the third quarter. Barclays PLC now owns 58,328 shares of the technology company’s stock worth $1,377,000 after buying an additional 46,080 shares in the last quarter. Geode Capital Management LLC boosted its holdings in American Superconductor by 4.5% during the third quarter. Geode Capital Management LLC now owns 847,412 shares of the technology company’s stock worth $20,003,000 after buying an additional 36,511 shares in the last quarter. Main Management ETF Advisors LLC purchased a new stake in American Superconductor during the third quarter worth $806,000. Finally, State Street Corp boosted its holdings in American Superconductor by 18.3% during the third quarter. State Street Corp now owns 906,250 shares of the technology company’s stock worth $21,388,000 after buying an additional 140,106 shares in the last quarter. 52.28% of the stock is owned by hedge funds and other institutional investors.

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.