American Superconductor (NASDAQ:AMSC) Trading Down 3.9% – Here’s Why

Shares of American Superconductor Co. (NASDAQ:AMSC) traded down 3.9% during mid-day trading on Tuesday . The stock traded as low as $25.20 and last traded at $25.30. 304,372 shares changed hands during trading, a decline of 66% from the average session volume of 890,552 shares. The stock had previously closed at $26.32.

Analysts Set New Price Targets

Separately, Oppenheimer lifted their target price on American Superconductor from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th.

American Superconductor Stock Performance

The company’s 50-day simple moving average is $27.94 and its 200-day simple moving average is $25.46. The company has a market capitalization of $1.00 billion, a PE ratio of -508.74 and a beta of 2.26.

Hedge Funds Weigh In On American Superconductor

Large investors have recently modified their holdings of the business. CWM LLC acquired a new position in American Superconductor during the third quarter worth $57,000. Quest Partners LLC purchased a new position in shares of American Superconductor in the 3rd quarter valued at about $88,000. Truist Financial Corp acquired a new position in American Superconductor during the fourth quarter worth about $251,000. Private Advisor Group LLC purchased a new position in American Superconductor in the fourth quarter valued at about $264,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of American Superconductor in the 4th quarter worth approximately $279,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

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.