American Superconductor (NASDAQ:AMSC) Sees Strong Trading Volume – Should You Buy?

by · The Markets Daily

American Superconductor Co. (NASDAQ:AMSC – Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 661,719 shares were traded during mid-day trading, a decline of 32% from the previous session’s volume of 974,904 shares.The stock last traded at $25.53 and had previously closed at $23.27.

Analysts Set New Price Targets

Several brokerages have commented on AMSC. Roth Mkm reiterated a “buy” rating and set a $29.00 target price on shares of American Superconductor in a research note on Monday, September 30th. Craig Hallum reaffirmed a “buy” rating and set a $33.00 price objective on shares of American Superconductor in a research report on Tuesday, September 10th.

Get Our Latest Stock Analysis on AMSC

American Superconductor Price Performance

The stock’s 50-day moving average is $21.65 and its two-hundred day moving average is $20.18. The company has a market cap of $914.96 million, a P/E ratio of -63.41 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC – Get Free Report) last announced its 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. The business had revenue of $40.29 million during the quarter, compared to analyst estimates of $39.55 million. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. On average, analysts predict that American Superconductor Co. will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AMSC. Amalgamated Bank purchased a new position in shares of American Superconductor in the second quarter worth approximately $28,000. nVerses Capital LLC bought a new position in American Superconductor in the second quarter worth approximately $42,000. CWM LLC purchased a new position in shares of American Superconductor during the 3rd quarter worth $57,000. Canada Pension Plan Investment Board bought a new stake in shares of American Superconductor during the 2nd quarter valued at $96,000. Finally, Virtu Financial LLC purchased a new stake in shares of American Superconductor in the 1st quarter worth $152,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

American Superconductor Company Profile

(Get Free Report)

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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