American Superconductor Co. (NASDAQ:AMSC - Get Free Report) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 3,810,000 shares, a growth of 28.3% from the December 31st total of 2,970,000 shares. Based on an average trading volume of 1,390,000 shares, the days-to-cover ratio is presently 2.7 days.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of AMSC. Amalgamated Bank acquired a new stake in shares of American Superconductor during the 2nd quarter worth about $28,000. CWM LLC acquired a new stake in shares of American Superconductor during the 3rd quarter worth about $57,000. Quest Partners LLC acquired a new position in American Superconductor in the 3rd quarter valued at about $88,000. Truist Financial Corp acquired a new position in American Superconductor in the 4th quarter valued at about $251,000. Finally, Private Advisor Group LLC acquired a new position in American Superconductor in the 4th quarter valued at about $264,000. Hedge funds and other institutional investors own 52.28% of the company's stock.
American Superconductor Stock Performance
Shares of NASDAQ AMSC traded up $0.01 during trading on Monday, hitting $26.28. 554,717 shares of the company were exchanged, compared to its average volume of 913,182. American Superconductor has a 12-month low of $10.19 and a 12-month high of $38.02. The company has a fifty day moving average price of $28.11 and a 200-day moving average price of $25.46. The firm has a market capitalization of $1.04 billion, a PE ratio of -527.39 and a beta of 2.26.
Analysts Set New Price Targets
Separately, Oppenheimer raised their price objective on American Superconductor from $29.00 to $33.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th.
Get Our Latest Stock Report on AMSC
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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