Algert Global LLC Takes $1.54 Million Position in American Superconductor Co. (NASDAQ:AMSC)

Algert Global LLC acquired a new stake in American Superconductor Co. (NASDAQ:AMSC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 62,558 shares of the technology company's stock, valued at approximately $1,541,000. Algert Global LLC owned about 0.16% of American Superconductor at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMSC. Franklin Resources Inc. purchased a new stake in shares of American Superconductor during the 3rd quarter worth about $781,000. Barclays PLC raised its holdings in American Superconductor by 376.2% in the 3rd quarter. Barclays PLC now owns 58,328 shares of the technology company's stock worth $1,377,000 after purchasing an additional 46,080 shares during the period. Campbell Newman Asset Management Inc. purchased a new position in American Superconductor during the fourth quarter worth approximately $1,483,000. Heck Capital Advisors LLC acquired a new stake in American Superconductor in the fourth quarter valued at approximately $279,000. Finally, Truist Financial Corp acquired a new stake in American Superconductor in the fourth quarter valued at approximately $251,000. 52.28% of the stock is owned by institutional investors and hedge funds.

American Superconductor Price Performance

AMSC stock traded down $0.09 during trading on Thursday, hitting $23.65. The stock had a trading volume of 105,916 shares, compared to its average volume of 1,110,529. American Superconductor Co. has a twelve month low of $13.74 and a twelve month high of $38.02. The company's 50-day moving average price is $19.35 and its two-hundred day moving average price is $25.11. The stock has a market capitalization of $933.23 million, a P/E ratio of 334.48 and a beta of 2.81.

Wall Street Analyst Weigh In

Separately, Oppenheimer increased their target price on American Superconductor from $33.00 to $39.00 and gave the company an "outperform" rating in a research report on Friday, February 7th.

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.