Inspire Investing LLC Makes New Investment in American Superconductor Corporation $AMSC

Key Points

• Inspire Investing LLC acquired 38,556 shares of American Superconductor Corporation valued at approximately $699,000, representing a new position in the company.
• Several hedge funds, including Vanguard Group and AWM Investment Company, increased their stakes in American Superconductor during the first quarter, leading to institutional investors owning over 52% of the company's stock.
• Analysts have upgraded American Superconductor's stock to a "buy" rating with a consensus target price of $34.00, indicating positive sentiment for its future performance.

Inspire Investing LLC bought a new position in American Superconductor Corporation (NASDAQ:AMSC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 38,556 shares of the technology company's stock, valued at approximately $699,000. Inspire Investing LLC owned 0.10% of American Superconductor as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of American Superconductor by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 35,559 shares of the technology company's stock worth $876,000 after purchasing an additional 709 shares during the period. Sei Investments Co. boosted its holdings in American Superconductor by 1.9% during the first quarter. Sei Investments Co. now owns 53,070 shares of the technology company's stock valued at $963,000 after purchasing an additional 964 shares in the last quarter. Alps Advisors Inc. boosted its holdings in American Superconductor by 2.0% during the first quarter. Alps Advisors Inc. now owns 59,464 shares of the technology company's stock valued at $1,079,000 after purchasing an additional 1,160 shares in the last quarter. Sowell Financial Services LLC boosted its holdings in American Superconductor by 9.2% during the first quarter. Sowell Financial Services LLC now owns 16,459 shares of the technology company's stock valued at $299,000 after purchasing an additional 1,384 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of American Superconductor by 27.9% in the 1st quarter. National Bank of Canada FI now owns 9,506 shares of the technology company's stock worth $172,000 after acquiring an additional 2,072 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company's stock.

American Superconductor Trading Up 5.7%

Shares of NASDAQ:AMSC traded up $3.43 during trading on Thursday, reaching $63.92. 1,141,353 shares of the stock were exchanged, compared to its average volume of 1,036,886. The firm has a market cap of $2.89 billion, a PE ratio of 163.37 and a beta of 2.88. The stock has a 50-day moving average price of $49.34 and a 200-day moving average price of $32.99. American Superconductor Corporation has a 12 month low of $13.98 and a 12 month high of $63.45.

Analysts Set New Price Targets

Several research analysts have issued reports on AMSC shares. Oppenheimer reaffirmed an "outperform" rating on shares of American Superconductor in a report on Thursday, July 31st. Wall Street Zen raised American Superconductor from a "hold" rating to a "buy" rating in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $34.00.

Insider Buying and Selling at American Superconductor

In other American Superconductor news, CEO Daniel P. Mcgahn sold 100,848 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $54.49, for a total transaction of $5,495,207.52. Following the completion of the sale, the chief executive officer directly owned 1,183,134 shares in the company, valued at $64,468,971.66. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur H. House sold 9,703 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $50.92, for a total transaction of $494,076.76. Following the transaction, the director owned 48,663 shares of the company's stock, valued at $2,477,919.96. This trade represents a 16.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.

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.