American Superconductor (NASDAQ:AMSC) Hits New 1-Year High – Here’s What Happened

Shares of American Superconductor Co. (NASDAQ:AMSC) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $33.84 and last traded at $33.49, with a volume of 1677576 shares. The stock had previously closed at $28.31.

Analyst Upgrades and Downgrades

AMSC has been the topic of several research reports. Craig Hallum reissued a “buy” rating and issued a $33.00 target price on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm reissued a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Stock Up 20.6 %

The business has a 50 day moving average of $23.30 and a 200-day moving average of $21.65.

Institutional Trading of American Superconductor

Large investors have recently made changes to their positions in the stock. Hood River Capital Management LLC purchased a new position in American Superconductor in the 1st quarter valued at about $21,870,000. Assenagon Asset Management S.A. lifted its stake in shares of American Superconductor by 643.4% during the second quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock valued at $24,725,000 after buying an additional 914,872 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of American Superconductor during the third quarter valued at approximately $10,246,000. AWM Investment Company Inc. boosted its position in American Superconductor by 19.4% during the first quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock worth $35,954,000 after acquiring an additional 433,018 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in American Superconductor by 30.5% in the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock worth $22,953,000 after acquiring an additional 396,814 shares during the period. Institutional investors and hedge funds 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.