American Superconductor Co. (NASDAQ:AMSC) Short Interest Up 28.3% in January

American Superconductor Co. (NASDAQ:AMSC) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 3,810,000 shares, a growth of 28.3% from the December 31st total of 2,970,000 shares. Based on an average daily trading volume, of 1,390,000 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Ratings Changes

Separately, Oppenheimer boosted their price target on American Superconductor from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday.

American Superconductor Stock Down 3.8 %

NASDAQ:AMSC traded down $1.04 during mid-day trading on Friday, reaching $26.27. The company’s stock had a trading volume of 1,165,508 shares, compared to its average volume of 837,824. American Superconductor has a 1 year low of $10.19 and a 1 year high of $38.02. The stock has a fifty day moving average of $28.11 and a 200-day moving average of $25.53. The firm has a market capitalization of $1.04 billion, a PE ratio of -525.29 and a beta of 2.28.

Hedge Funds Weigh In On American Superconductor

A number of hedge funds and other institutional investors have recently modified their holdings of AMSC. Amalgamated Bank bought a new position in American Superconductor in the second quarter worth about $28,000. CWM LLC bought a new position in shares of American Superconductor during the 3rd quarter worth approximately $57,000. Quest Partners LLC purchased a new stake in American Superconductor during the third quarter valued at approximately $88,000. Truist Financial Corp purchased a new position in American Superconductor in the fourth quarter worth $251,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of American Superconductor during the third quarter worth $277,000. 52.28% of the stock is currently owned by 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.