American Superconductor (NASDAQ:AMSC) Rating Reiterated by Craig Hallum

American Superconductor (NASDAQ:AMSC)‘s stock had its “buy” rating reaffirmed by investment analysts at Craig Hallum in a report issued on Tuesday, Benzinga reports. They presently have a $33.00 target price on the technology company’s stock. Craig Hallum’s target price indicates a potential upside of 54.06% from the company’s current price.

AMSC has been the subject of several other reports. Oppenheimer raised their price objective on American Superconductor from $16.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Roth Mkm upped their target price 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 Price Performance

Shares of NASDAQ AMSC traded up $1.47 during trading on Tuesday, hitting $21.42. 564,800 shares of the company were exchanged, compared to its average volume of 940,206. American Superconductor has a 1 year low of $5.78 and a 1 year high of $32.70. The company has a market cap of $848.02 million, a price-to-earnings ratio of -54.92 and a beta of 2.14. The firm’s fifty day moving average price is $23.25 and its 200 day moving average price is $18.46.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.55 million. On average, research analysts forecast that American Superconductor will post 0.17 earnings per share for the current year.

Institutional Investors Weigh In On American Superconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AWM Investment Company Inc. grew 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 purchasing an additional 433,018 shares during the period. Baillie Gifford & Co. grew its stake in American Superconductor by 21.1% during the first quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock worth $34,134,000 after buying an additional 440,271 shares during the period. Hood River Capital Management LLC increased its position in shares of American Superconductor by 7.2% in the second 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of American Superconductor by 30.5% in the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock valued at $22,953,000 after acquiring an additional 396,814 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of American Superconductor by 643.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock valued at $24,725,000 after acquiring an additional 914,872 shares during the period. 52.28% of the stock is currently owned by institutional investors and hedge funds.

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.