American Superconductor Co. (NASDAQ:AMSC) Short Interest Up 12.5% in December

American Superconductor Co. (NASDAQ:AMSC) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 2,970,000 shares, a growth of 12.5% from the November 30th total of 2,640,000 shares. Based on an average daily volume of 1,400,000 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On American Superconductor

A number of hedge funds have recently made changes to their positions in AMSC. Amalgamated Bank bought a new position in shares of American Superconductor in the second quarter valued at approximately $28,000. nVerses Capital LLC bought a new stake in American Superconductor in the second quarter valued at approximately $42,000. CWM LLC acquired a new position in American Superconductor in the third quarter valued at about $57,000. Quest Partners LLC bought a new position in shares of American Superconductor during the 3rd quarter valued at about $88,000. Finally, Canada Pension Plan Investment Board bought a new position in American Superconductor in the second quarter valued at approximately $96,000. Institutional investors and hedge funds own 52.28% of the company’s stock.

American Superconductor Trading Up 0.6 %

Shares of NASDAQ AMSC opened at $25.20 on Tuesday. The firm has a market capitalization of $994.22 million, a price-to-earnings ratio of -503.90 and a beta of 2.21. American Superconductor has a one year low of $9.37 and a one year high of $38.02. The business has a fifty day simple moving average of $28.93 and a 200 day simple moving average of $25.27.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Craig Hallum reiterated a “buy” rating and set a $33.00 price objective on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm restated a “buy” rating and set a $29.00 price target on shares of American Superconductor in a research note 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.