American Superconductor jumps on strong trading volume

American Superconductor

01/08/2023 11:14

** Shares of power technology firm American Superconductor
Corp  AMSC.O  more than double to $21.38 premarket on no
apparent news
    ** Stock hit a 1-1/2 year high on Friday, but remains 68%
below its 2020 peak of $31.78
    ** AMSC was the second most traded U.S. stock at 5:55 a.m.
ET, with about 3.3 mln shares having changed hands, 3.3x its
10-DMA volume
    ** Massachusetts-based company, which makes wind energy and
grid power systems, did not immediately respond to a Reuters'
request for a comment
    ** The company had market cap of $305 mln as of Monday's
close - Refinitiv
    ** In May, co said its Q4 revenue grew to $106.0 mln from
$108.4 mln a year ago, while net loss widened to $6.9 mln in Q4
from $5.0 mln 
    ** YTD, stock is up nearly three-fold

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))