Allspring Global Investments Holdings LLC Sells 67,634 Shares of American Superconductor Corporation $AMSC

Key Points

• Allspring Global Investments reduced its stake in American Superconductor Corporation by 19.8%, selling 67,634 shares during the second quarter, leaving them with about 0.69% of the company's stock valued at approximately $9.84 million.
• CEO Daniel P. Mcgahn sold 100,848 shares for more than $5.49 million, resulting in a 7.85% decrease in his ownership, while Director Arthur H. House sold 9,703 shares, reducing his position by 16.62%.
• Brokerages have shown mixed sentiment towards AMSC, with Oppenheimer maintaining an "outperform" rating and others offering "hold" or "buy" ratings, leading to an average rating of "Moderate Buy" and a consensus target price of $39.00.

Allspring Global Investments Holdings LLC lowered its stake in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 19.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 273,396 shares of the technology company's stock after selling 67,634 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.69% of American Superconductor worth $9,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in American Superconductor by 104.7% during the second quarter. GAMMA Investing LLC now owns 954 shares of the technology company's stock valued at $35,000 after purchasing an additional 488 shares during the last quarter. Sei Investments Co. raised its stake in shares of American Superconductor by 1.9% during the 1st quarter. Sei Investments Co. now owns 53,070 shares of the technology company's stock worth $963,000 after purchasing an additional 964 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of American Superconductor by 2.0% in the 1st quarter. Alps Advisors Inc. now owns 59,464 shares of the technology company's stock valued at $1,079,000 after buying an additional 1,160 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in shares of American Superconductor by 9.2% in the 1st quarter. Sowell Financial Services LLC now owns 16,459 shares of the technology company's stock valued at $299,000 after buying an additional 1,384 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of American Superconductor by 27.9% in the first quarter. National Bank of Canada FI now owns 9,506 shares of the technology company's stock valued at $172,000 after buying an additional 2,072 shares in the last quarter. Institutional investors own 52.28% of the company's stock.

Insider Buying and Selling

In other American Superconductor news, CEO Daniel P. Mcgahn sold 100,848 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 1,183,134 shares of the company's stock, valued at $64,468,971.66. This represents a 7.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arthur H. House sold 9,703 shares of American Superconductor stock in a transaction 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 sale, the director directly owned 48,663 shares of the company's stock, valued at $2,477,919.96. This represents a 16.62% decrease in their position. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMSC. Oppenheimer restated an "outperform" rating on shares of American Superconductor in a report on Thursday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of American Superconductor in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $39.00.

American Superconductor Price Performance

Shares of AMSC opened at $60.02 on Friday. The company's 50-day moving average is $55.85 and its 200-day moving average is $39.40. The firm has a market capitalization of $2.71 billion, a PE ratio of 153.90 and a beta of 3.00. American Superconductor Corporation has a fifty-two week low of $13.98 and a fifty-two week high of $70.49.

American Superconductor (NASDAQ:AMSC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The business had revenue of $72.36 million for the quarter, compared to analyst estimates of $64.97 million. American Superconductor had a net margin of 6.00% and a return on equity of 9.35%. The business's revenue for the quarter was up 79.6% on a year-over-year basis. American Superconductor has set its Q2 2025 guidance at 0.14- EPS. Analysts predict that American Superconductor Corporation will post 0.41 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.