American Superconductor Co. (NASDAQ:AMSC - Get Free Report) saw a large decrease in short interest in October. As of October 15th, there was short interest totalling 2,610,000 shares, a decrease of 10.3% from the September 30th total of 2,910,000 shares. Based on an average trading volume of 1,000,000 shares, the days-to-cover ratio is currently 2.6 days.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. Craig Hallum restated 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 set a $29.00 price target on shares of American Superconductor in a report on Monday, September 30th.
Check Out Our Latest Report on American Superconductor
American Superconductor Price Performance
AMSC stock traded down $0.60 on Wednesday, reaching $23.48. 716,493 shares of the company were exchanged, compared to its average volume of 983,364. American Superconductor has a 12 month low of $6.08 and a 12 month high of $32.70. The stock's fifty day moving average price is $22.09 and its 200 day moving average price is $20.88. The firm has a market capitalization of $868.71 million, a PE ratio of -61.74 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, topping 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 firm had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.55 million. As a group, research analysts expect that American Superconductor will post 0.17 EPS for the current fiscal year.
Hedge Funds Weigh In On American Superconductor
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank bought a new stake in shares of American Superconductor in the 2nd quarter worth about $28,000. nVerses Capital LLC bought a new stake in American Superconductor during the 2nd quarter worth approximately $42,000. CWM LLC bought a new position in American Superconductor in the 3rd quarter valued at $57,000. Canada Pension Plan Investment Board bought a new stake in shares of American Superconductor during the second quarter worth $96,000. Finally, Virtu Financial LLC bought a new position in shares of American Superconductor in the first quarter valued at about $152,000. Institutional investors own 52.28% of the company's stock.
About American Superconductor
(
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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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