American Superconductor (NASDAQ:AMSC) Trading 7.3% Higher – Here’s What Happened

American Superconductor Co. (NASDAQ:AMSC)’s share price shot up 7.3% on Tuesday . The company traded as high as $18.61 and last traded at $18.82. 272,067 shares changed hands during trading, a decline of 74% from the average session volume of 1,055,426 shares. The stock had previously closed at $17.54.

Analyst Upgrades and Downgrades

Separately, Oppenheimer boosted their target price on shares of American Superconductor from $33.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, February 7th.

American Superconductor Price Performance

The company’s 50-day simple moving average is $26.73 and its two-hundred day simple moving average is $26.11. The firm has a market capitalization of $732.77 million, a P/E ratio of 265.32 and a beta of 2.45.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. Analysts predict that American Superconductor Co. will post 0.41 earnings per share for the current year.

Institutional Trading of American Superconductor

Several institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new stake in American Superconductor during the 3rd quarter valued at approximately $485,000. Lisanti Capital Growth LLC lifted its stake in American Superconductor by 110.2% in the 3rd quarter. Lisanti Capital Growth LLC now owns 131,340 shares of the technology company’s stock worth $3,100,000 after purchasing an additional 68,845 shares in the last quarter. Quest Partners LLC bought a new position in shares of American Superconductor during the 3rd quarter valued at about $88,000. Charles Schwab Investment Management Inc. grew its position in shares of American Superconductor by 211.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock valued at $7,187,000 after purchasing an additional 206,655 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of American Superconductor in the third quarter worth about $1,207,000. Hedge funds and other institutional investors own 52.28% of the company’s stock.

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.