American Superconductor (NASDAQ:AMSC) Shares Up 8.5% – Should You Buy?

American Superconductor Co. (NASDAQ:AMSC)’s share price traded up 8.5% during trading on Friday . The stock traded as high as $27.97 and last traded at $27.71. 160,914 shares were traded during trading, a decline of 70% from the average session volume of 543,078 shares. The stock had previously closed at $25.55.

Analysts Set New Price Targets

A number of research firms have recently commented on AMSC. Roth Mkm restated a “buy” rating and set a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th. Craig Hallum restated a “buy” rating and set a $33.00 price objective on shares of American Superconductor in a research note on Tuesday, September 10th.

American Superconductor Stock Up 9.5 %

The business’s 50-day moving average price is $29.06 and its 200 day moving average price is $25.26. The company has a market capitalization of $1.10 billion, a P/E ratio of -559.29 and a beta of 2.28.

Institutional Investors Weigh In On American Superconductor

Several hedge funds have recently bought and sold shares of the business. Amalgamated Bank bought a new position in American Superconductor in the second quarter valued at about $28,000. nVerses Capital LLC purchased a new stake in shares of American Superconductor in the second quarter worth $42,000. CWM LLC bought a new position in American Superconductor in the 3rd quarter worth $57,000. Quest Partners LLC bought a new position in American Superconductor in the 3rd quarter worth $88,000. Finally, Canada Pension Plan Investment Board bought a new stake in American Superconductor during the second quarter valued at about $96,000. Institutional investors own 52.28% of the company’s stock.

American Superconductor Company Profile

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.