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

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

Other institutional investors have also recently modified their holdings of the company. Driehaus Capital Management LLC raised its stake in shares of 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 buying an additional 143,936 shares during the period. Geode Capital Management LLC grew its position in shares of American Superconductor by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 856,455 shares of the technology company's stock worth $21,099,000 after purchasing an additional 9,043 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of American Superconductor by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 654,299 shares of the technology company's stock worth $16,117,000 after purchasing an additional 46,354 shares in the last quarter. Wellington Management Group LLP purchased a new position in American Superconductor during the 4th quarter valued at approximately $11,360,000. Finally, Raymond James Financial Inc. purchased a new position in American Superconductor during the 4th quarter valued at approximately $10,188,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

American Superconductor Trading Up 3.2%

NASDAQ:AMSC traded up $1.34 during trading hours on Friday, hitting $42.72. The company had a trading volume of 1,279,441 shares, compared to its average volume of 1,098,455. The company has a 50-day moving average of $32.15 and a 200 day moving average of $26.21. The company has a market cap of $1.69 billion, a P/E ratio of 284.80 and a beta of 2.91. American Superconductor Corporation has a 1 year low of $13.98 and a 1 year high of $43.41.

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

Insider Activity at American Superconductor

In other news, CFO John W. Kosiba, Jr. sold 4,744 shares of the firm's stock in a transaction 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 in the company, valued at approximately $13,035,403.56. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel P. Mcgahn sold 7,689 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $31.82, for a total transaction of $244,663.98. Following the completion of the sale, the chief executive officer owned 1,296,797 shares in the company, valued at $41,264,080.54. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,088 shares of company stock worth $4,952,531 in the last 90 days. 4.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.