Hsbc Holdings PLC Buys 8,051 Shares of American Superconductor Corporation $AMSC

Key Points

• Hsbc Holdings PLC has increased its stake in American Superconductor Corporation by 46.3%, now owning approximately $458,000 worth of shares.
• Institutional investors and hedge funds collectively hold 52.28% of American Superconductor's stock, with significant increases in holdings reported by firms such as Vanguard Group and Driehaus Capital Management.
• Despite recent insider stock sales, Wall Street analysts maintain a consensus buy rating for American Superconductor with an average target price of $33.67.

Hsbc Holdings PLC grew its position in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 46.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 25,430 shares of the technology company's stock after acquiring an additional 8,051 shares during the period. Hsbc Holdings PLC owned 0.06% of American Superconductor worth $458,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the stock. California State Teachers Retirement System raised its position in American Superconductor by 2.0% during the 4th quarter. California State Teachers Retirement System now owns 35,559 shares of the technology company's stock worth $876,000 after purchasing an additional 709 shares during the last quarter. Sei Investments Co. increased its position in American Superconductor by 1.9% in the 1st quarter. Sei Investments Co. now owns 53,070 shares of the technology company's stock valued at $963,000 after buying an additional 964 shares in the last quarter. Alps Advisors Inc. increased its position in 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 in the last quarter. Sowell Financial Services LLC increased its holdings in American Superconductor by 9.2% during the 1st quarter. Sowell Financial Services LLC now owns 16,459 shares of the technology company's stock worth $299,000 after purchasing an additional 1,384 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in American Superconductor by 7.2% during the 4th quarter. MetLife Investment Management LLC now owns 21,201 shares of the technology company's stock worth $522,000 after purchasing an additional 1,415 shares in the last quarter. 52.28% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Arthur H. House sold 9,703 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $50.92, for a total transaction of $494,076.76. Following the completion of the sale, the director owned 48,663 shares of the company's stock, valued at $2,477,919.96. This trade represents a 16.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel P. Mcgahn sold 100,848 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $54.49, for a total value of $5,495,207.52. Following the completion of the transaction, the chief executive officer directly owned 1,183,134 shares in the company, valued at $64,468,971.66. This trade 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 Stock Up 0.8%

Shares of American Superconductor stock traded up $0.39 during trading on Friday, reaching $48.92. 425,526 shares of the stock were exchanged, compared to its average volume of 1,032,106. The stock's fifty day moving average is $46.57 and its 200 day moving average is $31.26. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 125.59 and a beta of 2.88. American Superconductor Corporation has a 1 year low of $13.98 and a 1 year high of $58.42.

Wall Street Analyst Weigh In

AMSC has been the topic of a number of research analyst reports. Wall Street Zen upgraded American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th. Oppenheimer reissued an "outperform" rating on shares of American Superconductor in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, American Superconductor has an average rating of "Buy" and an average price target 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.