Balyasny Asset Management L.P. Makes New $5.89 Million Investment in American Superconductor Co. (NASDAQ:AMSC)

Balyasny Asset Management L.P. bought a new stake in American Superconductor Co. (NASDAQ:AMSC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 238,992 shares of the technology company's stock, valued at approximately $5,886,000. Balyasny Asset Management L.P. owned 0.61% of American Superconductor at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMSC. Algert Global LLC purchased a new position in American Superconductor in the 4th quarter worth about $1,541,000. Itau Unibanco Holding S.A. purchased a new position in American Superconductor in the 4th quarter worth about $314,000. AQR Capital Management LLC increased its stake in American Superconductor by 143.5% in the 4th quarter. AQR Capital Management LLC now owns 256,230 shares of the technology company's stock worth $6,311,000 after buying an additional 151,015 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new position in American Superconductor in the 4th quarter worth about $204,000. Finally, Northern Trust Corp increased its stake in American Superconductor by 8.9% in the 4th quarter. Northern Trust Corp now owns 327,805 shares of the technology company's stock worth $8,074,000 after buying an additional 26,819 shares during the period. Hedge funds and other institutional investors own 52.28% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer raised their price target on shares of American Superconductor from $33.00 to $39.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th.

American Superconductor Stock Performance

AMSC stock traded up $0.16 during trading on Wednesday, reaching $23.74. The company had a trading volume of 538,615 shares, compared to its average volume of 1,114,502. The firm has a 50-day simple moving average of $19.26 and a 200-day simple moving average of $25.12. The company has a market cap of $936.78 million, a price-to-earnings ratio of 339.19 and a beta of 2.81. American Superconductor Co. has a twelve month low of $13.74 and a twelve month high of $38.02.

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.