American Superconductor (NASDAQ:AMSC) Shares Gap Up – What’s Next?

American Superconductor Co. (NASDAQ:AMSC) gapped up before the market opened on Friday . The stock had previously closed at $21.51, but opened at $22.50. American Superconductor shares last traded at $22.75, with a volume of 218,776 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Craig Hallum reissued a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research report on Tuesday, September 10th. Roth Mkm reaffirmed a “buy” rating and issued a $29.00 target price on shares of American Superconductor in a research report on Monday.

American Superconductor Price Performance

The firm has a 50-day moving average price of $21.32 and a 200 day moving average price of $19.45. The company has a market cap of $859.83 million, a price-to-earnings ratio of -58.36 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.09. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. The company had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.55 million. On average, equities analysts anticipate that American Superconductor Co. will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On American Superconductor

Several institutional investors have recently made changes to their positions in the stock. AWM Investment Company Inc. boosted its stake in shares of American Superconductor by 19.4% in the first quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock valued at $35,954,000 after buying an additional 433,018 shares during the period. Baillie Gifford & Co. boosted its stake in shares of American Superconductor by 21.1% in the first quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after buying an additional 440,271 shares during the period. Hood River Capital Management LLC boosted its stake in shares of American Superconductor by 7.2% in the second quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company’s stock valued at $40,582,000 after buying an additional 116,207 shares during the period. Vanguard Group Inc. boosted its stake in shares of American Superconductor by 30.5% in the first quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock valued at $22,953,000 after buying an additional 396,814 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of American Superconductor by 643.4% in the second quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock valued at $24,725,000 after buying an additional 914,872 shares during the period. 52.28% of the stock is currently owned by institutional investors.

American Superconductor Company Profile

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind. 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; and engineering planning services.