Shares of American Superconductor Co. (NASDAQ:AMSC) hit a new 52-week high on Friday . The stock traded as high as $9.69 and last traded at $9.33, with a volume of 15639 shares trading hands. The stock had previously closed at $9.48.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded American Superconductor from a “hold” rating to a “strong-buy” rating and set a $7.00 price objective for the company in a report on Thursday, October 25th. Craig Hallum upped their price objective on American Superconductor to $15.00 and gave the company a “buy” rating in a report on Wednesday. Finally, ValuEngine upgraded American Superconductor from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 1st.
American Superconductor (NASDAQ:AMSC) last announced its earnings results on Tuesday, November 6th. The technology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.11. American Superconductor had a negative return on equity of 30.78% and a net margin of 13.55%. The business had revenue of $14.88 million during the quarter, compared to the consensus estimate of $13.90 million. Sell-side analysts forecast that American Superconductor Co. will post -0.93 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in AMSC. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of American Superconductor during the second quarter valued at $186,000. GMT Capital Corp purchased a new stake in shares of American Superconductor during the second quarter valued at $218,000. First Trust Advisors LP lifted its holdings in shares of American Superconductor by 18.6% during the third quarter. First Trust Advisors LP now owns 110,716 shares of the technology company’s stock valued at $769,000 after purchasing an additional 17,344 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of American Superconductor by 147.7% during the first quarter. Millennium Management LLC now owns 278,039 shares of the technology company’s stock valued at $1,618,000 after purchasing an additional 165,813 shares during the last quarter. Finally, AWM Investment Company Inc. lifted its holdings in shares of American Superconductor by 19.4% during the third quarter. AWM Investment Company Inc. now owns 1,496,068 shares of the technology company’s stock valued at $10,398,000 after purchasing an additional 243,154 shares during the last quarter. 21.71% of the stock is owned by institutional investors and hedge funds.
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About American Superconductor (NASDAQ:AMSC)
American Superconductor Corporation provides megawatt-scale solutions worldwide. The company operates in two segments, Wind and Grid. The Wind segment designs wind turbine systems and licenses these designs to third parties under the Windtec Solutions brand. It supplies power electronics and software-based control systems, and provides customer support services to wind turbine manufacturers.
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