American Superconductor (NASDAQ:AMSC) Price Target Raised to $39.00 at Oppenheimer

American Superconductor (NASDAQ:AMSC - Free Report) had its price target upped by Oppenheimer from $33.00 to $39.00 in a research report report published on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company's stock.

American Superconductor Stock Performance

Shares of NASDAQ AMSC traded down $0.71 during trading hours on Friday, hitting $31.88. The company's stock had a trading volume of 647,378 shares, compared to its average volume of 1,243,207. The business has a 50-day simple moving average of $27.61 and a 200-day simple moving average of $25.57. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 453.99 and a beta of 2.26. American Superconductor has a 12 month low of $11.36 and a 12 month high of $38.02.

American Superconductor (NASDAQ:AMSC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. On average, equities research analysts forecast that American Superconductor will post 0.37 EPS for the current year.

Hedge Funds Weigh In On American Superconductor

Several large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company purchased a new position in American Superconductor in the 2nd quarter worth approximately $307,000. CWM LLC purchased a new position in American Superconductor in the 3rd quarter worth approximately $57,000. Allspring Global Investments Holdings LLC purchased a new position in American Superconductor in the 3rd quarter worth approximately $10,246,000. Precision Wealth Strategies LLC purchased a new position in American Superconductor in the 3rd quarter worth approximately $300,000. Finally, Los Angeles Capital Management LLC purchased a new position in American Superconductor in the 3rd quarter worth approximately $485,000. 52.28% of the stock is currently 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.