American Superconductor (NASDAQ:AMSC) Trading 8.5% Higher – Should You Buy?

American Superconductor Co. (NASDAQ:AMSC)’s stock price shot up 8.5% during trading on Friday . The company traded as high as $27.97 and last traded at $27.71. 160,914 shares were traded during mid-day trading, a decline of 70% from the average session volume of 543,078 shares. The stock had previously closed at $25.55.

Analyst Upgrades and Downgrades

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

American Superconductor Stock Up 12.3 %

The company has a market cap of $1.13 billion, a PE ratio of -573.49 and a beta of 2.28. The stock has a 50-day moving average of $29.18 and a 200-day moving average of $25.28.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMSC. Franklin Resources Inc. bought a new position in shares of American Superconductor in the 3rd quarter worth $781,000. Barclays PLC increased its stake in American Superconductor by 376.2% in the third quarter. Barclays PLC now owns 58,328 shares of the technology company’s stock valued at $1,377,000 after acquiring an additional 46,080 shares during the last quarter. Geode Capital Management LLC raised its position in American Superconductor by 4.5% during the third quarter. Geode Capital Management LLC now owns 847,412 shares of the technology company’s stock valued at $20,003,000 after purchasing an additional 36,511 shares in the last quarter. Main Management ETF Advisors LLC bought a new stake in American Superconductor during the third quarter worth about $806,000. Finally, State Street Corp boosted its holdings in shares of American Superconductor by 18.3% in the 3rd quarter. State Street Corp now owns 906,250 shares of the technology company’s stock worth $21,388,000 after purchasing an additional 140,106 shares in the last quarter. 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 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.