Roth Mkm Reiterates “Buy” Rating for American Superconductor (NASDAQ:AMSC)

American Superconductor (NASDAQ:AMSC)‘s stock had its “buy” rating restated by equities researchers at Roth Mkm in a note issued to investors on Monday, Benzinga reports. They presently have a $29.00 price objective on the technology company’s stock. Roth Mkm’s price objective points to a potential upside of 26.69% from the company’s previous close.

Separately, Craig Hallum reissued a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research report on Tuesday, September 10th.

American Superconductor Stock Performance

American Superconductor stock opened at $22.89 on Monday. The firm has a 50 day moving average price of $21.72 and a 200 day moving average price of $19.29. American Superconductor has a fifty-two week low of $5.78 and a fifty-two week high of $32.70. The company has a market capitalization of $846.88 million, a PE ratio of -58.69 and a beta of 2.13.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.09. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. The firm had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.55 million. As a group, equities research analysts forecast that American Superconductor will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its position in American Superconductor by 21.1% in the 1st quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after purchasing an additional 440,271 shares in the last quarter. Acadian Asset Management LLC raised its holdings in American Superconductor by 92.5% in the first quarter. Acadian Asset Management LLC now owns 48,218 shares of the technology company’s stock valued at $649,000 after acquiring an additional 23,174 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in American Superconductor in the first quarter worth approximately $1,179,000. Vanguard Group Inc. lifted its stake in American Superconductor by 30.5% in the first 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 last quarter. Finally, SG Americas Securities LLC acquired a new position in American Superconductor during the 2nd quarter worth approximately $2,704,000. 52.28% of the stock is owned by institutional investors and hedge funds.

About American Superconductor

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind. 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; and engineering planning services.