American Superconductor (NASDAQ:AMSC) Reaches New 12-Month High - Still a Buy?

American Superconductor Co. (NASDAQ:AMSC - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $33.84 and last traded at $33.49, with a volume of 1677576 shares changing hands. The stock had previously closed at $28.31.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Craig Hallum reiterated a "buy" rating and issued a $33.00 target price on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm restated a "buy" rating and issued a $29.00 price target on shares of American Superconductor in a report on Monday, September 30th.

American Superconductor Stock Up 20.6 %

The company's fifty day moving average is $23.03 and its 200 day moving average is $21.49. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -680.40 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.09. American Superconductor had a positive return on equity of 8.29% and a negative net margin of 0.49%. The firm had revenue of $40.29 million during the quarter, compared to the consensus estimate of $39.55 million. On average, equities research analysts forecast that American Superconductor Co. will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On American Superconductor

A number of institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC grew its stake in American Superconductor by 92.5% in the 1st quarter. Acadian Asset Management LLC now owns 48,218 shares of the technology company's stock valued at $649,000 after buying an additional 23,174 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of American Superconductor in the third quarter valued at approximately $10,246,000. ClariVest Asset Management LLC bought a new position in shares of American Superconductor during the first quarter worth approximately $1,179,000. Vanguard Group Inc. lifted its holdings in American Superconductor by 30.5% during the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company's stock worth $22,953,000 after purchasing an additional 396,814 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in American Superconductor in the 2nd quarter valued at $2,704,000. 52.28% of the stock is owned by institutional investors.

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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