American Superconductor Co. (NASDAQ:AMSC) Short Interest Update

American Superconductor Co. (NASDAQ:AMSC) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 3,810,000 shares, a growth of 28.3% from the December 15th total of 2,970,000 shares. Based on an average daily volume of 1,390,000 shares, the short-interest ratio is currently 2.7 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of American Superconductor during the third quarter worth about $10,246,000. Charles Schwab Investment Management Inc. lifted its stake in American Superconductor by 211.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock worth $7,187,000 after acquiring an additional 206,655 shares during the last quarter. State Street Corp grew its holdings in American Superconductor by 18.3% during the 3rd quarter. State Street Corp now owns 906,250 shares of the technology company’s stock worth $21,388,000 after acquiring an additional 140,106 shares in the last quarter. Hood River Capital Management LLC increased its position in shares of American Superconductor by 7.2% in the 2nd quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company’s stock valued at $40,582,000 after purchasing an additional 116,207 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of American Superconductor by 65.6% in the 2nd quarter. Renaissance Technologies LLC now owns 187,989 shares of the technology company’s stock valued at $4,397,000 after purchasing an additional 74,500 shares during the last quarter. 52.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Roth Mkm reiterated a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a report on Monday, September 30th.

American Superconductor Stock Performance

American Superconductor stock opened at $28.05 on Thursday. The company’s 50 day simple moving average is $29.40 and its 200-day simple moving average is $25.45. American Superconductor has a 1 year low of $9.37 and a 1 year high of $38.02. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -560.89 and a beta of 2.28.

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.