American Superconductor Co. (NASDAQ:AMSC) Sees Significant Decline in Short Interest

American Superconductor Co. (NASDAQ:AMSC) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 3,500,000 shares, a decline of 10.5% from the January 15th total of 3,910,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the days-to-cover ratio is presently 2.5 days.

American Superconductor Trading Down 1.7 %

AMSC stock traded down $0.53 on Friday, hitting $31.16. The company’s stock had a trading volume of 923,859 shares, compared to its average volume of 1,152,223. The firm has a 50 day moving average of $27.43 and a two-hundred day moving average of $25.75. American Superconductor has a 1 year low of $11.36 and a 1 year high of $38.02. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 445.21 and a beta of 2.26.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. As a group, equities analysts forecast that American Superconductor will post 0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer upped their price target on shares of American Superconductor from $33.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, February 7th.

Hedge Funds Weigh In On American Superconductor

A number of large investors have recently bought and sold shares of AMSC. CWM LLC purchased a new position in American Superconductor during the 3rd quarter worth $57,000. Allspring Global Investments Holdings LLC acquired a new position in shares of American Superconductor during the 3rd quarter worth $10,246,000. Precision Wealth Strategies LLC acquired a new position in shares of American Superconductor during the 3rd quarter worth $300,000. Los Angeles Capital Management LLC acquired a new position in shares of American Superconductor during the 3rd quarter worth $485,000. Finally, Lisanti Capital Growth LLC grew its stake in shares of American Superconductor by 110.2% during the 3rd quarter. Lisanti Capital Growth LLC now owns 131,340 shares of the technology company’s stock worth $3,100,000 after purchasing an additional 68,845 shares during the period. 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.