Acas LLC Takes $184,000 Position in American Superconductor Corporation (NASDAQ:AMSC)

Acas LLC acquired a new stake in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,165 shares of the technology company's stock, valued at approximately $184,000.

A number of other institutional investors have also recently bought and sold shares of the company. Gen Wealth Partners Inc acquired a new position in shares of American Superconductor in the fourth quarter valued at approximately $58,000. PNC Financial Services Group Inc. boosted its holdings in shares of American Superconductor by 8,670.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company's stock valued at $73,000 after buying an additional 2,948 shares during the period. CWM LLC boosted its holdings in shares of American Superconductor by 49.5% in the first quarter. CWM LLC now owns 7,915 shares of the technology company's stock valued at $144,000 after buying an additional 2,622 shares during the period. GAMMA Investing LLC boosted its holdings in shares of American Superconductor by 3,089.8% in the first quarter. GAMMA Investing LLC now owns 8,453 shares of the technology company's stock valued at $153,000 after buying an additional 8,188 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of American Superconductor in the fourth quarter valued at approximately $170,000. Institutional investors and hedge funds own 52.28% of the company's stock.

American Superconductor Stock Up 3.2%

Shares of AMSC stock traded up $1.34 during trading on Friday, reaching $42.72. The company's stock had a trading volume of 1,279,441 shares, compared to its average volume of 1,101,401. The business has a fifty day moving average price of $31.73 and a 200-day moving average price of $26.08. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 284.80 and a beta of 2.91. American Superconductor Corporation has a one year low of $13.98 and a one year high of $43.41.

American Superconductor (NASDAQ:AMSC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $66.66 million for the quarter, compared to analyst estimates of $60.27 million. American Superconductor had a net margin of 2.71% and a return on equity of 8.89%. The business's quarterly revenue was up 58.6% on a year-over-year basis. Research analysts anticipate that American Superconductor Corporation will post 0.41 EPS for the current year.

Insider Buying and Selling at American Superconductor

In other American Superconductor news, CEO Daniel P. Mcgahn sold 7,689 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $31.82, for a total transaction of $244,663.98. Following the sale, the chief executive officer directly owned 1,296,797 shares of the company's stock, valued at approximately $41,264,080.54. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $31.83, for a total transaction of $151,001.52. Following the sale, the chief financial officer directly owned 409,532 shares in the company, valued at $13,035,403.56. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,088 shares of company stock worth $4,952,531 over the last ninety days. Insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.