American Superconductor (NASDAQ:AMSC) Shares Up 6.8% – Should You Buy?

American Superconductor Co. (NASDAQ:AMSC)’s stock price traded up 6.8% during mid-day trading on Wednesday . The stock traded as high as $35.50 and last traded at $35.06. 465,572 shares changed hands during trading, a decline of 56% from the average session volume of 1,051,058 shares. The stock had previously closed at $32.84.

Analyst Ratings Changes

AMSC has been the topic of a number of recent analyst reports. Roth Mkm reiterated a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a research report on Monday, September 30th. Craig Hallum reiterated a “buy” rating and issued a $33.00 price objective on shares of American Superconductor in a research report on Tuesday, September 10th.

American Superconductor Price Performance

The firm has a market cap of $1.39 billion, a P/E ratio of -697.86 and a beta of 2.21. The stock has a 50 day moving average of $27.48 and a 200 day moving average of $24.18.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of American Superconductor by 30.5% during the first quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock valued at $22,953,000 after buying an additional 396,814 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of American Superconductor in the first quarter worth about $152,000. SG Americas Securities LLC bought a new stake in shares of American Superconductor in the second quarter worth about $2,704,000. Assenagon Asset Management S.A. grew its stake in shares of American Superconductor by 643.4% in 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. Finally, Bank of New York Mellon Corp grew its stake in shares of American Superconductor by 524.1% in the second quarter. Bank of New York Mellon Corp now owns 122,239 shares of the technology company’s stock worth $2,859,000 after purchasing an additional 102,652 shares during the last quarter. 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.