Short Interest in American Superconductor Co. (NASDAQ:AMSC) Declines By 8.0%

American Superconductor Co. (NASDAQ:AMSC) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 2,640,000 shares, a decrease of 8.0% from the November 15th total of 2,870,000 shares. Based on an average daily volume of 1,410,000 shares, the short-interest ratio is presently 1.9 days.

American Superconductor Trading Down 0.2 %

AMSC opened at $25.78 on Tuesday. The company’s 50 day moving average is $28.67 and its 200 day moving average is $25.04. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -515.60 and a beta of 2.21. American Superconductor has a 12-month low of $9.37 and a 12-month high of $38.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $29.00 target price on shares of American Superconductor in a research report on Monday, September 30th. Craig Hallum reaffirmed a “buy” rating and issued a $33.00 price objective on shares of American Superconductor in a report on Tuesday, September 10th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AMSC. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of American Superconductor by 2.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 39,146 shares of the technology company’s stock worth $916,000 after purchasing an additional 828 shares in the last quarter. Amalgamated Bank purchased a new position in shares of American Superconductor during the 2nd quarter valued at about $28,000. nVerses Capital LLC purchased a new stake in American Superconductor in the 2nd quarter worth approximately $42,000. CWM LLC bought a new stake in American Superconductor during the 3rd quarter worth approximately $57,000. Finally, Quest Partners LLC purchased a new position in American Superconductor during the third quarter valued at approximately $88,000. Hedge funds and other institutional investors own 52.28% of the company’s stock.

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.