American Superconductor (NASDAQ:AMSC) Stock Price Up 7.3% – Time to Buy?

Shares of American Superconductor Co. (NASDAQ:AMSC) rose 7.3% during mid-day trading on Tuesday . The company traded as high as $18.61 and last traded at $18.82. Approximately 272,067 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,055,426 shares. The stock had previously closed at $17.54.

Wall Street Analyst Weigh In

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

American Superconductor Stock Performance

The company has a market capitalization of $732.77 million, a PE ratio of 265.32 and a beta of 2.45. The business’s 50-day moving average is $26.73 and its 200-day moving average is $26.11.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results 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 return on equity of 8.95% and a net margin of 1.64%. Analysts expect that American Superconductor Co. will post 0.41 EPS for the current year.

Institutional Trading of American Superconductor

Several institutional investors have recently bought and sold shares of AMSC. Gen Wealth Partners Inc bought a new position in shares of American Superconductor in the fourth quarter worth approximately $58,000. SBI Securities Co. Ltd. purchased a new position in American Superconductor in the 4th quarter worth approximately $65,000. Jones Financial Companies Lllp lifted its position in American Superconductor by 1,083.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company’s stock valued at $73,000 after acquiring an additional 2,708 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in American Superconductor by 8,670.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company’s stock valued at $73,000 after purchasing an additional 2,948 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of American Superconductor in the 3rd quarter worth $88,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

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.