Short Interest in American Superconductor Co. (NASDAQ:AMSC) Increases By 12.5%

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 trading volume, of 1,400,000 shares, the short-interest ratio is currently 2.1 days.

American Superconductor Price Performance

Shares of NASDAQ:AMSC opened at $25.20 on Tuesday. American Superconductor has a one year low of $9.37 and a one year high of $38.02. The company has a market cap of $994.22 million, a price-to-earnings ratio of -503.90 and a beta of 2.21. The firm has a 50 day simple moving average of $28.93 and a 200 day simple moving average of $25.27.

Institutional Investors Weigh In On American Superconductor

Several hedge funds have recently modified their holdings of the company. Hood River Capital Management LLC grew its holdings in American Superconductor by 7.2% during the 2nd quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company’s stock worth $40,582,000 after acquiring an additional 116,207 shares during the last quarter. State Street Corp increased its stake in shares of American Superconductor by 18.3% in the third quarter. State Street Corp now owns 906,250 shares of the technology company’s stock valued at $21,388,000 after buying an additional 140,106 shares during the period. Geode Capital Management LLC lifted its stake in shares of American Superconductor by 4.5% in the third quarter. Geode Capital Management LLC now owns 847,412 shares of the technology company’s stock worth $20,003,000 after acquiring an additional 36,511 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in American Superconductor in the third quarter valued at approximately $10,246,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of American Superconductor by 211.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock worth $7,187,000 after purchasing an additional 206,655 shares during the period. Institutional investors and hedge funds own 52.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AMSC shares. Craig Hallum restated a “buy” rating and set a $33.00 price objective on shares of American Superconductor in a research report on Tuesday, September 10th. Roth Mkm reissued a “buy” rating and set a $29.00 price target on shares of American Superconductor in a 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.