American Superconductor Co. (NASDAQ:AMSC) Sees Large Decrease in Short Interest

American Superconductor Co. (NASDAQ:AMSC) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,640,000 shares, a decline of 8.0% from the November 15th total of 2,870,000 shares. Based on an average daily trading volume, of 1,410,000 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Roth Mkm reiterated a “buy” rating and set a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th. Craig Hallum reaffirmed a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research report on Tuesday, September 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank bought a new position in American Superconductor in the second quarter worth about $28,000. nVerses Capital LLC bought a new stake in shares of American Superconductor in the 2nd quarter worth approximately $42,000. CWM LLC acquired a new position in American Superconductor during the 3rd quarter valued at approximately $57,000. Quest Partners LLC acquired a new stake in American Superconductor in the third quarter worth $88,000. Finally, Canada Pension Plan Investment Board bought a new stake in American Superconductor in the second quarter valued at $96,000. 52.28% of the stock is owned by institutional investors and hedge funds.

American Superconductor Price Performance

American Superconductor stock opened at $25.93 on Wednesday. American Superconductor has a 12 month low of $9.37 and a 12 month high of $38.02. The company has a fifty day moving average price of $28.74 and a two-hundred day moving average price of $25.09. The company has a market cap of $1.02 billion, a PE ratio of -518.50 and a beta of 2.21.

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.