Short Interest in American Superconductor Co. (NASDAQ:AMSC) Increases By 10.2%

American Superconductor Co. (NASDAQ:AMSC) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 2,910,000 shares, an increase 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.

American Superconductor Trading Down 0.8 %

Shares of NASDAQ:AMSC opened at $23.81 on Tuesday. American Superconductor has a 1-year low of $5.78 and a 1-year high of $32.70. The stock has a market capitalization of $880.92 million, a P/E ratio of -61.05 and a beta of 2.14. The business has a 50-day moving average price of $21.36 and a two-hundred day moving average price of $20.04.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $40.29 million for the quarter, compared to analyst estimates of $39.55 million. As a group, equities analysts predict that American Superconductor will post 0.17 EPS for the current year.

Institutional Investors Weigh In On American Superconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its stake in shares of American Superconductor by 21.1% in the 1st quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after acquiring an additional 440,271 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of American Superconductor by 92.5% during the first quarter. Acadian Asset Management LLC now owns 48,218 shares of the technology company’s stock worth $649,000 after purchasing an additional 23,174 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in shares of American Superconductor in the 1st quarter valued at $1,179,000. Vanguard Group Inc. increased its position in shares of American Superconductor by 30.5% in the 1st 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in American Superconductor during the 2nd quarter worth $2,704,000. Institutional investors own 52.28% of the company’s stock.

Analysts Set New Price Targets

AMSC has been the subject of a number of research analyst reports. Craig Hallum reaffirmed a “buy” rating and issued a $33.00 target price on shares of American Superconductor in a research note on Tuesday, September 10th. Roth Mkm restated a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a research report on Monday, September 30th.

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.