American Superconductor (NASDAQ:AMSC) Trading 8.9% Higher – Still a Buy?

American Superconductor Co. (NASDAQ:AMSC) shares traded up 8.9% during trading on Thursday . The stock traded as high as $34.21 and last traded at $33.93. 224,948 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,044,311 shares. The stock had previously closed at $31.16.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. 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. Craig Hallum restated a “buy” rating and set a $33.00 price target on shares of American Superconductor in a report on Tuesday, September 10th.

American Superconductor Trading Up 11.7 %

The business has a fifty day simple moving average of $25.41 and a two-hundred day simple moving average of $22.87. The stock has a market cap of $1.37 billion, a PE ratio of -683.86 and a beta of 2.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of American Superconductor by 376.2% during the 3rd quarter. Barclays PLC now owns 58,328 shares of the technology company’s stock worth $1,377,000 after acquiring an additional 46,080 shares during the period. Geode Capital Management LLC grew its holdings in shares of American Superconductor by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 847,412 shares of the technology company’s stock worth $20,003,000 after acquiring an additional 36,511 shares during the period. Main Management ETF Advisors LLC bought a new stake in shares of American Superconductor in the 3rd quarter worth approximately $806,000. State Street Corp boosted its position in shares of American Superconductor by 18.3% in the 3rd quarter. State Street Corp now owns 906,250 shares of the technology company’s stock worth $21,388,000 after purchasing an additional 140,106 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of American Superconductor in the 3rd quarter worth approximately $373,000. 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.