American Superconductor Co. (NASDAQ:AMSC) Short Interest Up 21.6% in June

American Superconductor Co. (NASDAQ:AMSC) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 2,030,000 shares, a growth of 21.6% from the May 31st total of 1,670,000 shares. Based on an average daily trading volume, of 659,900 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

AMSC has been the topic of a number of recent analyst reports. Roth Mkm upped their target price on shares of American Superconductor from $20.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Craig Hallum upped their target price on shares of American Superconductor from $16.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Oppenheimer upped their target price on shares of American Superconductor from $16.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, May 31st.

Insider Activity

In related news, CEO Daniel P. Mcgahn sold 20,559 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $304,684.38. Following the completion of the sale, the chief executive officer now directly owns 1,057,121 shares of the company’s stock, valued at approximately $15,666,533.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other American Superconductor news, CEO Daniel P. Mcgahn sold 20,559 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total value of $304,684.38. Following the completion of the transaction, the chief executive officer now directly owns 1,057,121 shares of the company’s stock, valued at approximately $15,666,533.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel P. Mcgahn sold 37,165 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total transaction of $806,108.85. Following the completion of the transaction, the chief executive officer now directly owns 1,019,956 shares of the company’s stock, valued at $22,122,845.64. The disclosure for this sale can be found here. Insiders sold 118,724 shares of company stock valued at $2,234,333 in the last ninety days. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On American Superconductor

Several institutional investors and hedge funds have recently bought and sold shares of AMSC. Hood River Capital Management LLC acquired a new stake in American Superconductor during the first quarter worth about $21,870,000. Baillie Gifford & Co. increased its stake in shares of American Superconductor by 39.9% in the fourth quarter. Baillie Gifford & Co. now owns 2,086,279 shares of the technology company’s stock valued at $23,241,000 after purchasing an additional 594,909 shares during the period. AWM Investment Company Inc. increased its stake in shares of American Superconductor by 19.4% in the first quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock valued at $35,954,000 after purchasing an additional 433,018 shares during the period. Vanguard Group Inc. increased its stake 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 purchasing an additional 396,814 shares during the period. Finally, Invesco Ltd. increased its stake in shares of American Superconductor by 58.9% in the third quarter. Invesco Ltd. now owns 873,006 shares of the technology company’s stock valued at $6,591,000 after purchasing an additional 323,472 shares during the period. Institutional investors and hedge funds own 52.28% of the company’s stock.

American Superconductor Price Performance

AMSC traded down $0.88 on Friday, hitting $23.39. 6,103,114 shares of the company’s stock were exchanged, compared to its average volume of 1,223,479. American Superconductor has a twelve month low of $5.75 and a twelve month high of $27.38. The stock has a fifty day moving average of $17.87 and a two-hundred day moving average of $14.20.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.08. The firm had revenue of $42.03 million for the quarter, compared to analyst estimates of $36.75 million. American Superconductor had a negative net margin of 7.63% and a negative return on equity of 4.26%. As a group, sell-side analysts expect that American Superconductor will post -0.04 earnings per share for the current year.

About American Superconductor

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.