Ameriprise Financial Inc. Has $1.71 Million Stock Position in American Superconductor Co. (NASDAQ:AMSC)

Ameriprise Financial Inc. trimmed its stake in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,281 shares of the technology company's stock after selling 9,219 shares during the period. Ameriprise Financial Inc. owned approximately 0.18% of American Superconductor worth $1,706,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. PFG Investments LLC bought a new position in American Superconductor in the 4th quarter valued at $280,000. KBC Group NV acquired a new position in shares of American Superconductor in the 4th quarter valued at $2,492,000. Heck Capital Advisors LLC bought a new position in shares of American Superconductor in the 4th quarter worth $279,000. Spire Wealth Management grew its position in shares of American Superconductor by 17.7% during the 4th quarter. Spire Wealth Management now owns 17,517 shares of the technology company's stock worth $431,000 after buying an additional 2,628 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of American Superconductor by 1.2% in the 4th quarter. Rhumbline Advisers now owns 51,119 shares of the technology company's stock valued at $1,259,000 after acquiring an additional 606 shares during the last quarter. 52.28% of the stock is owned by institutional investors.

Insider Buying and Selling at American Superconductor

In other news, CFO John W. Kosiba, Jr. sold 50,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $26.40, for a total transaction of $1,320,000.00. Following the completion of the sale, the chief financial officer now owns 414,276 shares in the company, valued at approximately $10,936,886.40. This trade represents a 10.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel P. Mcgahn sold 122,655 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $26.39, for a total transaction of $3,236,865.45. Following the completion of the transaction, the chief executive officer now owns 1,304,486 shares in the company, valued at approximately $34,425,385.54. This trade represents a 8.59% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company's stock.

American Superconductor Stock Performance

American Superconductor stock traded up $1.31 during midday trading on Tuesday, reaching $30.13. The stock had a trading volume of 558,487 shares, compared to its average volume of 1,116,384. The stock has a market capitalization of $1.19 billion, a P/E ratio of 430.49 and a beta of 2.81. The firm's fifty day simple moving average is $20.97 and its 200-day simple moving average is $24.73. American Superconductor Co. has a 1-year low of $13.98 and a 1-year high of $38.02.

American Superconductor (NASDAQ:AMSC - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $66.66 million for the quarter, compared to the consensus estimate of $60.27 million. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. The firm's revenue for the quarter was up 58.6% compared to the same quarter last year. On average, sell-side analysts anticipate that American Superconductor Co. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer upped their target price on shares of American Superconductor from $33.00 to $39.00 and gave the company an "outperform" rating in a research note on Friday, February 7th.

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.