American Superconductor Co. (NASDAQ:AMSC) Sees Significant Decline in Short Interest

American Superconductor Co. (NASDAQ:AMSC) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,610,000 shares, a decline of 10.3% from the September 30th total of 2,910,000 shares. Based on an average trading volume of 1,000,000 shares, the short-interest ratio is currently 2.6 days.

American Superconductor Trading Down 2.5 %

Shares of AMSC stock opened at $23.48 on Thursday. The stock has a market cap of $868.71 million, a P/E ratio of -60.21 and a beta of 2.14. American Superconductor has a 1 year low of $6.08 and a 1 year high of $32.70. The stock has a 50 day simple moving average of $22.15 and a 200 day simple moving average of $20.90.

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

Analyst Ratings Changes

Several analysts recently weighed in on AMSC shares. Craig Hallum reissued a “buy” rating and set a $33.00 price target on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm reissued a “buy” rating and set a $29.00 target price on shares of American Superconductor in a report on Monday, September 30th.

Hedge Funds Weigh In On American Superconductor

Several hedge funds have recently bought and sold shares of AMSC. Hood River Capital Management LLC acquired a new stake in shares of American Superconductor during the 1st quarter worth approximately $21,870,000. Assenagon Asset Management S.A. lifted its stake in American Superconductor by 643.4% during the second quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock worth $24,725,000 after purchasing an additional 914,872 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of American Superconductor by 21.1% in the 1st quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after purchasing an additional 440,271 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of American Superconductor in the 3rd quarter valued at $10,246,000. Finally, AWM Investment Company Inc. raised its holdings in shares of American Superconductor by 19.4% during the 1st quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock worth $35,954,000 after buying an additional 433,018 shares in the last quarter. 52.28% of the stock is 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.