Algert Global LLC Acquires 33,100 Shares of American Superconductor Corporation $AMSC

Key Points

• Algert Global LLC increased its stake in American Superconductor Corporation by 52.9% in the first quarter, acquiring an additional 33,100 shares for a total of 95,658 shares.
• American Superconductor reported a 58.6% year-over-year revenue increase in its latest quarterly earnings, achieving $0.12 EPS, which exceeded analysts' estimates.
• Insider sales included CFO John W. Kosiba, Jr. selling 4,744 shares and Director Arthur H. House selling 9,703 shares, reflecting a decrease in their respective holdings.

Algert Global LLC increased its stake in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 52.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,658 shares of the technology company's stock after buying an additional 33,100 shares during the period. Algert Global LLC owned about 0.24% of American Superconductor worth $1,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMSC. Fox Run Management L.L.C. bought a new position in American Superconductor in the first quarter valued at about $521,000. Sei Investments Co. lifted its holdings in shares of American Superconductor by 1.9% in 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. Nuveen LLC purchased a new stake in American Superconductor in the first quarter worth $14,123,000. Invesco Ltd. lifted its stake in American Superconductor by 23.1% during the first quarter. Invesco Ltd. now owns 243,523 shares of the technology company's stock worth $4,418,000 after purchasing an additional 45,740 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of American Superconductor by 27.9% during 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 during the period. 52.28% of the stock is owned by institutional investors and hedge funds.

American Superconductor Price Performance

NASDAQ AMSC traded up $0.58 during trading hours on Wednesday, reaching $52.84. The company's stock had a trading volume of 344,975 shares, compared to its average volume of 1,037,135. American Superconductor Corporation has a 52 week low of $13.98 and a 52 week high of $58.42. The firm has a fifty day simple moving average of $44.11 and a 200-day simple moving average of $30.34. The stock has a market cap of $2.39 billion, a P/E ratio of 135.64 and a beta of 2.95.

Insider Transactions at American Superconductor

In other American Superconductor news, CFO John W. Kosiba, Jr. sold 4,744 shares of American Superconductor 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arthur H. House sold 9,703 shares of the company's stock in a transaction dated 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 $2,477,919.96. The trade was a 16.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,984 shares of company stock valued at $6,384,950 over the last quarter. 4.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMSC. Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a report on Tuesday, July 15th. Oppenheimer restated an "outperform" rating on shares of American Superconductor in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $33.67.

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.