Invesco Ltd. Boosts Stock Position in American Superconductor Corporation $AMSC

Key Points

• Invesco Ltd. increased its stake in American Superconductor Corporation by 23.1%, owning 243,523 shares valued at approximately $4.4 million.
• Analysts have raised their ratings on American Superconductor, with an average target price of $33.67 reflecting a bullish outlook on the stock.
• Insider selling was reported, with Director Arthur H. House selling 9,703 shares and CEO Daniel P. Mcgahn selling 100,848 shares, leading to a decrease in their respective holdings.

Invesco Ltd. lifted its stake in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 243,523 shares of the technology company's stock after buying an additional 45,740 shares during the period. Invesco Ltd. owned approximately 0.62% of American Superconductor worth $4,418,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMSC. Gen Wealth Partners Inc purchased a new position in American Superconductor during the 4th quarter valued at about $58,000. CWM LLC increased its holdings in American Superconductor by 49.5% during the 1st quarter. CWM LLC now owns 7,915 shares of the technology company's stock valued at $144,000 after purchasing an additional 2,622 shares during the period. GAMMA Investing LLC increased its holdings in American Superconductor by 3,089.8% during the 1st quarter. GAMMA Investing LLC now owns 8,453 shares of the technology company's stock valued at $153,000 after purchasing an additional 8,188 shares during the period. National Bank of Canada FI increased its holdings in 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 valued at $172,000 after purchasing an additional 2,072 shares during the period. Finally, Acas LLC purchased a new position in American Superconductor during the 1st quarter valued at about $184,000. Hedge funds and other institutional investors own 52.28% of the company's stock.

American Superconductor Trading Down 3.6%

AMSC traded down $1.81 during midday trading on Tuesday, reaching $48.09. The company's stock had a trading volume of 476,720 shares, compared to its average volume of 1,035,539. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 123.44 and a beta of 2.89. American Superconductor Corporation has a 1 year low of $13.98 and a 1 year high of $58.42. The stock's 50-day moving average is $45.73 and its 200-day moving average is $30.89.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CEO Daniel P. Mcgahn sold 100,848 shares of the company's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $31.83, for a total value of $151,001.52. Following the completion of the sale, the chief financial officer owned 409,532 shares in the company, valued at $13,035,403.56. The trade was a 1.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,984 shares of company stock worth $6,384,950 in the last 90 days. Insiders own 4.80% of the company's stock.

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.