Dimensional Fund Advisors LP raised its stake in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) by 7.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 654,299 shares of the technology company's stock after buying an additional 46,354 shares during the quarter. Dimensional Fund Advisors LP owned about 1.66% of American Superconductor worth $16,117,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in shares of American Superconductor in the 4th quarter worth about $11,360,000. Raymond James Financial Inc. purchased a new position in American Superconductor during the 4th quarter valued at about $10,188,000. Arrowstreet Capital Limited Partnership bought a new stake in American Superconductor in the fourth quarter valued at $7,310,000. KBC Group NV bought a new position in American Superconductor in the fourth quarter worth about $2,492,000. Finally, Campbell Newman Asset Management Inc. purchased a new position in shares of American Superconductor in the 4th quarter valued at approximately $1,483,000. 52.28% of the stock is owned by hedge funds and other institutional investors.
American Superconductor Stock Performance
Shares of NASDAQ:AMSC traded up $0.08 during midday trading on Wednesday, reaching $23.66. 165,249 shares of the company's stock traded hands, compared to its average volume of 887,526. American Superconductor Co. has a one year low of $13.74 and a one year high of $38.02. The company has a market cap of $933.62 million, a price-to-earnings ratio of 338.05 and a beta of 2.81. The stock has a 50 day moving average of $19.26 and a 200 day moving average of $25.12.
Analysts Set New Price Targets
Separately, Oppenheimer lifted their price objective on American Superconductor from $33.00 to $39.00 and gave the company an "outperform" rating in a research note on Friday, February 7th.
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American Superconductor Company Profile
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Free Report)
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.
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