American Superconductor Co. (NASDAQ:AMSC) Short Interest Update

American Superconductor Co. (NASDAQ:AMSC) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 3,810,000 shares, an increase 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.

American Superconductor Price Performance

NASDAQ AMSC opened at $27.31 on Friday. American Superconductor has a 12 month low of $10.19 and a 12 month high of $38.02. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -546.09 and a beta of 2.28. The company’s fifty day moving average price is $28.40 and its two-hundred day moving average price is $25.55.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer boosted their price objective on shares of American Superconductor from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMSC. Amalgamated Bank bought a new position in American Superconductor during the 2nd quarter valued at $28,000. Hsbc Holdings PLC bought a new position in shares of American Superconductor in the 2nd quarter worth about $313,000. Sei Investments Co. bought a new position in shares of American Superconductor in the 2nd quarter worth about $562,000. The Manufacturers Life Insurance Company bought a new position in shares of American Superconductor in the 2nd quarter worth about $307,000. Finally, Point72 Asset Management L.P. lifted its position in shares of American Superconductor by 453.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 20,490 shares of the technology company’s stock worth $479,000 after buying an additional 16,790 shares during the last quarter. 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.