American Superconductor (NASDAQ:AMSC) Shares Gap Up to $19.95

American Superconductor Co. (NASDAQ:AMSC) shares gapped up before the market opened on Tuesday . The stock had previously closed at $19.95, but opened at $20.46. American Superconductor shares last traded at $20.59, with a volume of 128,919 shares traded.

Analyst Ratings Changes

AMSC has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on shares of American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Roth Mkm increased their price objective on American Superconductor from $27.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 8th.

American Superconductor Stock Performance

The company has a market cap of $845.64 million, a price-to-earnings ratio of -53.90 and a beta of 2.14. The business has a fifty day moving average price of $23.25 and a 200 day moving average price of $18.46.

American Superconductor (NASDAQ:AMSC) last released its earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.09. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. The business had revenue of $40.29 million for the quarter, compared to analyst estimates of $39.55 million. As a group, equities analysts anticipate that American Superconductor Co. will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank purchased a new stake in American Superconductor during the 2nd quarter valued at $28,000. Psagot Value Holdings Ltd. Israel purchased a new stake in American Superconductor during the 4th quarter valued at $33,000. nVerses Capital LLC bought a new position in American Superconductor in the second quarter worth approximately $42,000. Canada Pension Plan Investment Board purchased a new position in American Superconductor in the second quarter valued at about $96,000. Finally, Virtu Financial LLC acquired a new stake in shares of American Superconductor in the 1st quarter worth $152,000. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

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.