Nuveen LLC Purchases New Position in American Superconductor Corporation $AMSC

Key Points

• Nuveen LLC acquired 778,566 shares of American Superconductor Corporation (NASDAQ: AMSC) valued at approximately $14.1 million, representing about 1.97% of the company.
• AMSC reported a quarterly earnings per share (EPS) of $0.12, surpassing analysts' estimates of $0.10, with revenue growing 58.6% year-over-year to $66.66 million.
• Insider trades showed significant activity, with CFO John W. Kosiba, Jr. and CEO Daniel P. Mcgahn selling a combined total of 172,655 shares for around $4.5 million in value.

Nuveen LLC bought a new position in American Superconductor Corporation (NASDAQ:AMSC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 778,566 shares of the technology company's stock, valued at approximately $14,123,000. Nuveen LLC owned about 1.97% of American Superconductor at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP bought a new position in American Superconductor during the fourth quarter valued at approximately $11,360,000. Balyasny Asset Management L.P. bought a new position in shares of American Superconductor during the 4th quarter valued at $5,886,000. AQR Capital Management LLC raised its position 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 purchasing an additional 151,015 shares during the period. Driehaus Capital Management LLC lifted its stake in American Superconductor by 18.0% in the fourth quarter. Driehaus Capital Management LLC now owns 942,698 shares of the technology company's stock worth $23,219,000 after purchasing an additional 143,936 shares during the last quarter. Finally, KP Management LLC purchased a new stake in American Superconductor during the fourth quarter valued at about $2,340,000. Hedge funds and other institutional investors own 52.28% of the company's stock.

American Superconductor Stock Up 0.6%

Shares of NASDAQ:AMSC traded up $0.34 during midday trading on Wednesday, hitting $52.60. 224,226 shares of the stock traded hands, compared to its average volume of 1,036,292. The business's 50 day moving average is $44.11 and its two-hundred day moving average is $30.34. The stock has a market capitalization of $2.38 billion, a PE ratio of 135.04 and a beta of 2.95. American Superconductor Corporation has a one year low of $13.98 and a one year high of $58.42.

Analyst Ratings Changes

AMSC has been the topic of a number of recent research reports. Wall Street Zen raised American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th. Oppenheimer restated an "outperform" rating on shares of American Superconductor in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $33.67.

Insider Buying and Selling at American Superconductor

In other news, Director Arthur H. House sold 9,703 shares of the business's stock in a transaction that occurred 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 directly owned 48,663 shares of the company's stock, valued at approximately $2,477,919.96. The trade was a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $31.83, for a total value of $151,001.52. Following the completion of the sale, the chief financial officer directly owned 409,532 shares of the company's stock, valued at $13,035,403.56. The trade was a 1.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,984 shares of company stock valued at $6,384,950 in the last 90 days. Insiders own 4.80% of the company's stock.

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.