Royce & Associates LP Raises Stock Position in American Superconductor Corporation (NASDAQ:AMSC)

Key Points

• Royce & Associates LP increased its stake in American Superconductor Corporation by 3.4% during the first quarter, owning 867,342 shares valued at approximately $15.7 million.
• Insider sales occurred with CEO Daniel P. Mcgahn and CFO John W. Kosiba Jr. selling shares, leading to a decrease in their ownership of the stock.
• American Superconductor's stock rose 0.4% to $43.20, and the company reported strong quarterly earnings with revenue up 58.6% year-over-year.

Royce & Associates LP boosted its position in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 867,342 shares of the technology company's stock after purchasing an additional 28,410 shares during the period. Royce & Associates LP owned about 2.20% of American Superconductor worth $15,734,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AMSC. Swiss National Bank increased its position in shares of American Superconductor by 4.3% during the fourth quarter. Swiss National Bank now owns 75,300 shares of the technology company's stock worth $1,855,000 after acquiring an additional 3,100 shares during the period. Commonwealth Equity Services LLC purchased a new position in shares of American Superconductor during the fourth quarter worth approximately $292,000. American Century Companies Inc. purchased a new position in shares of American Superconductor during the fourth quarter worth approximately $320,000. KLP Kapitalforvaltning AS purchased a new position in shares of American Superconductor during the fourth quarter worth approximately $170,000. Finally, LPL Financial LLC increased its position in shares of American Superconductor by 332.0% during the fourth quarter. LPL Financial LLC now owns 58,534 shares of the technology company's stock worth $1,442,000 after acquiring an additional 44,985 shares during the period. 52.28% of the stock is currently owned by institutional investors.

Insider Activity at American Superconductor

In other American Superconductor news, CEO Daniel P. Mcgahn sold 7,689 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $31.82, for a total value of $244,663.98. Following the completion of the sale, the chief executive officer directly owned 1,296,797 shares in the company, valued at $41,264,080.54. This trade represents a 0.59% 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, CFO John W. Kosiba, Jr. sold 4,744 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $31.83, for a total transaction of $151,001.52. Following the completion of the sale, the chief financial officer owned 409,532 shares of the company's stock, valued at approximately $13,035,403.56. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,088 shares of company stock valued at $4,952,531. 4.80% of the stock is owned by insiders.

American Superconductor Stock Up 0.4%

Shares of NASDAQ AMSC traded up $0.19 during midday trading on Friday, reaching $43.20. 1,002,958 shares of the company's stock traded hands, compared to its average volume of 984,948. The stock's 50 day simple moving average is $34.05 and its 200-day simple moving average is $26.73. American Superconductor Corporation has a one year low of $13.98 and a one year high of $44.74. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 288.00 and a beta of 2.91.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released 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. American Superconductor had a net margin of 2.71% and a return on equity of 8.89%. The firm had revenue of $66.66 million for the quarter, compared to the consensus estimate of $60.27 million. The firm's quarterly revenue was up 58.6% on a year-over-year basis. Equities analysts predict that American Superconductor Corporation will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a research report on Tuesday, July 15th.

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.