American Superconductor Co. (NASDAQ:AMSC) Sees Large Increase in Short Interest

American Superconductor Co. (NASDAQ:AMSC) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 2,910,000 shares, a growth of 10.2% from the September 15th total of 2,640,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AMSC shares. Craig Hallum reiterated a “buy” rating and issued a $33.00 target price on shares of American Superconductor in a research report on Tuesday, September 10th. Roth Mkm reiterated a “buy” rating and issued a $29.00 target price on shares of American Superconductor in a research report on Monday, September 30th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Amalgamated Bank bought a new position in shares of American Superconductor during the second quarter valued at approximately $28,000. nVerses Capital LLC bought a new position in shares of American Superconductor during the second quarter valued at approximately $42,000. CWM LLC bought a new position in shares of American Superconductor during the third quarter valued at approximately $57,000. Canada Pension Plan Investment Board bought a new position in shares of American Superconductor during the second quarter valued at approximately $96,000. Finally, Virtu Financial LLC bought a new position in shares of American Superconductor during the first quarter valued at approximately $152,000. Institutional investors own 52.28% of the company’s stock.

American Superconductor Price Performance

Shares of AMSC stock opened at $26.39 on Thursday. American Superconductor has a 1 year low of $5.78 and a 1 year high of $32.70. The stock’s 50 day simple moving average is $21.56 and its two-hundred day simple moving average is $20.15. The company has a market cap of $976.38 million, a PE ratio of -67.67 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. The business had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.55 million. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. Equities research analysts expect that American Superconductor will post 0.17 EPS for the current year.

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.