American Superconductor Co. (NASDAQ:AMSC) Sees Large Increase in Short Interest

American Superconductor Co. (NASDAQ:AMSC) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,910,000 shares, a growth of 10.2% from the September 15th total of 2,640,000 shares. Based on an average trading volume of 1,050,000 shares, the short-interest ratio is presently 2.8 days.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On American Superconductor

Large investors have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its position in shares of American Superconductor by 21.1% in the first quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after acquiring an additional 440,271 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of American Superconductor by 92.5% in the first quarter. Acadian Asset Management LLC now owns 48,218 shares of the technology company’s stock valued at $649,000 after acquiring an additional 23,174 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in shares of American Superconductor in the first quarter valued at about $1,179,000. Vanguard Group Inc. lifted its position in shares of American Superconductor by 30.5% in the first 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of American Superconductor in the second quarter valued at about $2,704,000. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

American Superconductor Stock Performance

NASDAQ:AMSC opened at $26.39 on Thursday. The stock has a 50-day simple moving average of $21.56 and a two-hundred day simple moving average of $20.15. American Superconductor has a 52-week low of $5.78 and a 52-week high of $32.70. The firm has a market capitalization of $976.38 million, a PE ratio of -67.67 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC) last released its quarterly 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 positive return on equity of 1.15% and a negative net margin of 5.29%. The business had revenue of $40.29 million during the quarter, compared to analyst estimates of $39.55 million. Equities analysts forecast that American Superconductor will post 0.17 earnings per share for the current fiscal year.

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.