Short Interest in American Superconductor Co. (NASDAQ:AMSC) Grows By 21.6%

American Superconductor Co. (NASDAQ:AMSC) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,030,000 shares, an increase of 21.6% from the May 31st total of 1,670,000 shares. Based on an average trading volume of 659,900 shares, the short-interest ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Roth Mkm lifted their target price on shares of American Superconductor from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Oppenheimer upped their price objective on American Superconductor from $16.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Finally, Craig Hallum raised their target price on American Superconductor from $16.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 31st.

Insider Buying and Selling

In other news, CFO John W. Kosiba, Jr. sold 29,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total value of $429,780.00. Following the completion of the sale, the chief financial officer now directly owns 348,136 shares in the company, valued at $5,159,375.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO John W. Kosiba, Jr. sold 29,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total value of $429,780.00. Following the completion of the transaction, the chief financial officer now owns 348,136 shares in the company, valued at approximately $5,159,375.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel P. Mcgahn sold 37,165 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $21.69, for a total value of $806,108.85. Following the sale, the chief executive officer now owns 1,019,956 shares of the company’s stock, valued at approximately $22,122,845.64. The disclosure for this sale can be found here. Insiders have sold a total of 118,724 shares of company stock worth $2,234,333 in the last three months. Insiders own 4.40% of the company’s stock.

Institutional Trading of American Superconductor

Hedge funds have recently bought and sold shares of the stock. Invesco Ltd. increased its position in shares of American Superconductor by 58.9% during the third quarter. Invesco Ltd. now owns 873,006 shares of the technology company’s stock worth $6,591,000 after acquiring an additional 323,472 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of American Superconductor by 172.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,120 shares of the technology company’s stock valued at $922,000 after purchasing an additional 77,303 shares during the period. Trexquant Investment LP bought a new stake in shares of American Superconductor in the third quarter valued at about $1,290,000. Citigroup Inc. acquired a new position in shares of American Superconductor during the third quarter worth about $92,000. Finally, Baillie Gifford & Co. grew its holdings in shares of American Superconductor by 39.9% during the fourth quarter. Baillie Gifford & Co. now owns 2,086,279 shares of the technology company’s stock worth $23,241,000 after buying an additional 594,909 shares in the last quarter. 52.28% of the stock is currently owned by institutional investors and hedge funds.

American Superconductor Stock Performance

AMSC opened at $23.39 on Monday. American Superconductor has a twelve month low of $5.75 and a twelve month high of $27.38. The firm has a market cap of $865.43 million, a PE ratio of -59.97 and a beta of 2.08. The firm’s fifty day moving average is $17.87 and its two-hundred day moving average is $14.23.

American Superconductor (NASDAQ:AMSC) last posted its earnings results on Wednesday, May 29th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.08. The firm had revenue of $42.03 million for the quarter, compared to analyst estimates of $36.75 million. American Superconductor had a negative return on equity of 4.26% and a negative net margin of 7.63%. Equities analysts forecast that American Superconductor will post -0.04 EPS for the current fiscal year.

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.