Journey Strategic Wealth LLC Acquires Shares of 17,542 American Superconductor Corporation (NASDAQ:AMSC)

Key Points

• Journey Strategic Wealth LLC purchased 17,542 shares of American Superconductor Corporation, valued at approximately $318,000, during the first quarter of the year.
• American Superconductor reported a revenue of $66.66 million for the last quarter, significantly surpassing analyst estimates of $60.27 million and reflecting a year-over-year growth of 58.6%.
• Wall Street analysts recently upgraded American Superconductor from a "hold" rating to a "buy" rating, indicating positive sentiment about the company's future performance.

Journey Strategic Wealth LLC acquired a new stake in American Superconductor Corporation (NASDAQ:AMSC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 17,542 shares of the technology company's stock, valued at approximately $318,000.

Several other hedge funds also recently modified their holdings of AMSC. Kestra Private Wealth Services LLC bought a new position in American Superconductor during the first quarter worth about $187,000. Acas LLC bought a new position in American Superconductor during the first quarter worth about $184,000. CWM LLC grew its holdings in American Superconductor by 49.5% during the first quarter. CWM LLC now owns 7,915 shares of the technology company's stock worth $144,000 after purchasing an additional 2,622 shares during the period. Emerald Advisers LLC grew its holdings in American Superconductor by 37.7% during the first quarter. Emerald Advisers LLC now owns 38,719 shares of the technology company's stock worth $702,000 after purchasing an additional 10,600 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in American Superconductor by 52.2% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 12,597 shares of the technology company's stock worth $229,000 after purchasing an additional 4,320 shares during the period. Institutional investors own 52.28% of the company's stock.

Insider Buying and Selling

In other news, CEO Daniel P. Mcgahn sold 7,689 shares of American Superconductor stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $31.82, for a total value of $244,663.98. Following the completion of the sale, the chief executive officer directly owned 1,296,797 shares in the company, valued at approximately $41,264,080.54. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $31.83, for a total transaction of $151,001.52. Following the transaction, the chief financial officer owned 409,532 shares of the company's stock, valued at approximately $13,035,403.56. This represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,088 shares of company stock valued at $4,952,531. 4.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded American Superconductor from a "hold" rating to a "buy" rating in a report on Tuesday, July 15th.

American Superconductor Trading Up 0.4%

Shares of NASDAQ:AMSC traded up $0.19 during trading on Friday, reaching $43.20. 1,002,958 shares of the stock were exchanged, compared to its average volume of 984,948. American Superconductor Corporation has a 12 month low of $13.98 and a 12 month high of $44.74. The firm has a market cap of $1.71 billion, a PE ratio of 288.00 and a beta of 2.91. The stock has a 50-day moving average price of $34.05 and a 200-day moving average price of $26.72.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. American Superconductor had a net margin of 2.71% and a return on equity of 8.89%. The company had revenue of $66.66 million during the quarter, compared to the consensus estimate of $60.27 million. The firm's revenue was up 58.6% on a year-over-year basis. On average, sell-side analysts expect that American Superconductor Corporation will post 0.41 earnings per share for the current fiscal year.

About American Superconductor

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.