ArrowMark Colorado Holdings LLC Decreases Stake in American Superconductor Co. (NASDAQ:AMSC)

ArrowMark Colorado Holdings LLC decreased its holdings in American Superconductor Co. (NASDAQ:AMSC - Free Report) by 28.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,432 shares of the technology company's stock after selling 59,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.37% of American Superconductor worth $3,607,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of American Superconductor in the fourth quarter worth about $65,000. Jones Financial Companies Lllp grew its position in shares of American Superconductor by 1,083.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company's stock valued at $73,000 after purchasing an additional 2,708 shares during the period. PNC Financial Services Group Inc. raised its position in shares of American Superconductor by 8,670.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company's stock worth $73,000 after purchasing an additional 2,948 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in American Superconductor in the 4th quarter valued at about $170,000. Finally, Tradewinds LLC. acquired a new stake in American Superconductor in the 4th quarter worth about $176,000. 52.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

American Superconductor Trading Up 1.0 %

AMSC traded up $0.21 on Friday, hitting $21.60. The company had a trading volume of 196,485 shares, compared to its average volume of 1,106,509. The company's fifty day moving average price is $19.07 and its 200 day moving average price is $25.11. American Superconductor Co. has a 1 year low of $13.45 and a 1 year high of $38.02. The firm has a market cap of $852.34 million, a P/E ratio of 308.62 and a beta of 2.81.

American Superconductor (NASDAQ:AMSC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. On average, analysts predict that American Superconductor Co. will post 0.41 earnings per share for the current year.

American Superconductor 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.