6,224 Shares in American Superconductor Corporation $AMSC Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. acquired a new position in American Superconductor Corporation by purchasing 6,224 shares worth approximately $228,000 in the second quarter.
• Goldman Sachs Group Inc. increased its stake in the company by 54.6%, now owning 481,961 shares valued at approximately $8.74 million.
• American Superconductor has a market capitalization of $2.65 billion and recent analyst ratings indicate a consensus target price of $34.00 with a majority rating of "buy."

Assenagon Asset Management S.A. bought a new position in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,224 shares of the technology company's stock, valued at approximately $228,000.

Several other institutional investors have also recently made changes to their positions in the business. Andrew Hill Investment Advisors Inc. grew its position in shares of American Superconductor by 109.6% during the second quarter. Andrew Hill Investment Advisors Inc. now owns 152,779 shares of the technology company's stock worth $5,605,000 after purchasing an additional 79,888 shares in the last quarter. Voya Investment Management LLC boosted its stake in American Superconductor by 81.0% during the first quarter. Voya Investment Management LLC now owns 19,199 shares of the technology company's stock valued at $348,000 after buying an additional 8,594 shares during the last quarter. Inspire Investing LLC bought a new position in American Superconductor during the first quarter valued at approximately $699,000. Strs Ohio bought a new position in American Superconductor during the first quarter valued at approximately $379,000. Finally, Goldman Sachs Group Inc. boosted its stake in American Superconductor by 54.6% during the first quarter. Goldman Sachs Group Inc. now owns 481,961 shares of the technology company's stock valued at $8,743,000 after buying an additional 170,243 shares during the last quarter. Hedge funds and other institutional investors own 52.28% of the company's stock.

American Superconductor Price Performance

NASDAQ:AMSC opened at $58.57 on Monday. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 150.18 and a beta of 2.89. American Superconductor Corporation has a 1 year low of $13.98 and a 1 year high of $65.70. The business has a 50 day simple moving average of $52.19 and a 200-day simple moving average of $35.25.

Insider Activity at American Superconductor

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen raised American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th. Oppenheimer reissued an "outperform" rating on shares of American Superconductor in a research note on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $34.00.

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.

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