American Superconductor Corporation $AMSC Holdings Raised by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in American Superconductor Corporation by 81.0%, owning 19,199 shares worth $348,000 at the end of the first quarter.
• Other institutional investors, including Vanguard Group and AWM Investment Company, have also boosted their holdings in the company, which indicates growing confidence in American Superconductor.
• The stock has a market capitalization of $2.65 billion, with its price experiencing a significant range over the past year, from a low of $13.98 to a high of $65.70.

Voya Investment Management LLC boosted its stake in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 81.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,199 shares of the technology company's stock after buying an additional 8,594 shares during the quarter. Voya Investment Management LLC's holdings in American Superconductor were worth $348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in American Superconductor by 2.9% in the first quarter. Vanguard Group Inc. now owns 2,287,585 shares of the technology company's stock valued at $41,497,000 after acquiring an additional 64,650 shares during the last quarter. AWM Investment Company Inc. increased its stake in shares of American Superconductor by 3.0% during the 1st quarter. AWM Investment Company Inc. now owns 1,558,478 shares of the technology company's stock worth $28,271,000 after purchasing an additional 45,000 shares during the last quarter. Royce & Associates LP increased its stake in shares of American Superconductor by 3.4% during the 1st quarter. Royce & Associates LP now owns 867,342 shares of the technology company's stock worth $15,734,000 after purchasing an additional 28,410 shares during the last quarter. Atreides Management LP acquired a new position in shares of American Superconductor during the 1st quarter worth $14,948,000. Finally, Nuveen LLC acquired a new position in shares of American Superconductor during the 1st quarter worth $14,123,000. Hedge funds and other institutional investors own 52.28% of the company's stock.

American Superconductor Trading Up 1.1%

NASDAQ:AMSC opened at $58.57 on Monday. American Superconductor Corporation has a 1 year low of $13.98 and a 1 year high of $65.70. The firm's fifty day simple moving average is $52.19 and its 200 day simple moving average is $35.25. The firm has a market capitalization of $2.65 billion, a PE ratio of 150.18 and a beta of 2.89.

Analyst Ratings Changes

Several brokerages have recently commented on AMSC. Wall Street Zen upgraded shares of American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th. Oppenheimer restated an "outperform" rating on shares of American Superconductor in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $34.00.

Insiders Place Their Bets

In related news, Director Arthur H. House sold 9,703 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $50.92, for a total value of $494,076.76. Following the transaction, the director directly owned 48,663 shares in the company, valued at approximately $2,477,919.96. This trade represents a 16.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel P. Mcgahn sold 100,848 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $54.49, for a total transaction of $5,495,207.52. Following the completion of the sale, the chief executive officer owned 1,183,134 shares in the company, valued at $64,468,971.66. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.80% of the company's stock.

American Superconductor 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.

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