Jones Financial Companies Lllp Boosts Holdings in American Superconductor Corporation $AMSC

Key Points

• Jones Financial Companies Lllp significantly increased its position in American Superconductor Corporation by 3,280.5%, acquiring an additional 97,036 shares during the first quarter, bringing its total to approximately 100,000 shares.
• Institutional investors now own 52.28% of American Superconductor's stock, indicating strong interest from large financial entities.
• The company’s stock recently rose 6.4%, with a market cap of $2.47 billion and a 12-month price range between $13.98 and $58.42.

Jones Financial Companies Lllp raised its stake in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 3,280.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,994 shares of the technology company's stock after buying an additional 97,036 shares during the period. Jones Financial Companies Lllp owned about 0.25% of American Superconductor worth $1,814,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of American Superconductor by 49.5% in the 1st quarter. CWM LLC now owns 7,915 shares of the technology company's stock worth $144,000 after buying an additional 2,622 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of American Superconductor by 3,089.8% in the 1st quarter. GAMMA Investing LLC now owns 8,453 shares of the technology company's stock worth $153,000 after buying an additional 8,188 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of American Superconductor by 27.9% in the 1st quarter. National Bank of Canada FI now owns 9,506 shares of the technology company's stock worth $172,000 after buying an additional 2,072 shares during the last quarter. Acas LLC bought a new position in shares of American Superconductor in the 1st quarter worth $184,000. Finally, Kestra Private Wealth Services LLC bought a new position in shares of American Superconductor in the 1st quarter worth $187,000. Institutional investors own 52.28% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a report on Tuesday, July 15th. Oppenheimer reissued an "outperform" rating on shares of American Superconductor in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $34.00.

Insider Buying and Selling at American Superconductor

In other American Superconductor news, CEO Daniel P. Mcgahn sold 100,848 shares of the firm's stock in a transaction 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 sale, the chief executive officer owned 1,183,134 shares of the company's stock, valued at $64,468,971.66. This trade represents a 7.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur H. House sold 9,703 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $50.92, for a total transaction of $494,076.76. Following the completion of the sale, 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 disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.

American Superconductor Stock Performance

Shares of AMSC stock traded up $1.02 on Wednesday, hitting $57.53. 189,619 shares of the company's stock traded hands, compared to its average volume of 1,025,741. American Superconductor Corporation has a one year low of $13.98 and a one year high of $58.42. The company's fifty day simple moving average is $48.93 and its 200 day simple moving average is $32.80. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 147.58 and a beta of 2.88.

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.