Allspring Global Investments Holdings LLC cut its position in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 9.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,030 shares of the technology company's stock after selling 36,345 shares during the period. Allspring Global Investments Holdings LLC owned 0.86% of American Superconductor worth $6,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Sowell Financial Services LLC boosted its stake in shares of American Superconductor by 9.2% in the first quarter. Sowell Financial Services LLC now owns 16,459 shares of the technology company's stock worth $299,000 after acquiring an additional 1,384 shares during the last quarter. SG Americas Securities LLC lifted its position in American Superconductor by 104.8% during the first quarter. SG Americas Securities LLC now owns 15,839 shares of the technology company's stock worth $287,000 after buying an additional 8,105 shares in the last quarter. Deutsche Bank AG lifted its position in American Superconductor by 43.8% during the fourth quarter. Deutsche Bank AG now owns 32,913 shares of the technology company's stock worth $811,000 after buying an additional 10,029 shares in the last quarter. Northern Trust Corp lifted its position in American Superconductor by 8.9% during the fourth quarter. Northern Trust Corp now owns 327,805 shares of the technology company's stock worth $8,074,000 after buying an additional 26,819 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in American Superconductor by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,600 shares of the technology company's stock worth $557,000 after buying an additional 2,121 shares in the last quarter. 52.28% of the stock is owned by institutional investors and hedge funds.
American Superconductor Trading Down 3.3%
Shares of American Superconductor stock traded down $1.33 on Tuesday, hitting $38.93. The stock had a trading volume of 999,176 shares, compared to its average volume of 1,120,112. American Superconductor Corporation has a 52-week low of $13.98 and a 52-week high of $41.10. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 259.53 and a beta of 2.91. The company's 50 day moving average price is $28.59 and its 200 day moving average price is $25.25.
American Superconductor (NASDAQ:AMSC - Get Free Report) last posted its earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. American Superconductor had a return on equity of 8.89% and a net margin of 2.71%. The business had revenue of $66.66 million during the quarter, compared to the consensus estimate of $60.27 million. American Superconductor's revenue was up 58.6% compared to the same quarter last year. 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 downgraded American Superconductor from a "buy" rating to a "hold" rating in a research report on Monday.
Read Our Latest Report on AMSC
Insider Activity at American Superconductor
In other news, CEO Daniel P. Mcgahn sold 7,689 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $31.82, for a total transaction of $244,663.98. Following the completion of the transaction, the chief executive officer directly owned 1,296,797 shares of the company's stock, valued at approximately $41,264,080.54. This represents a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 value of $151,001.52. Following the completion of the sale, the chief financial officer directly owned 409,532 shares of the company's stock, valued at $13,035,403.56. This represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,088 shares of company stock valued at $4,952,531. 4.80% of the stock is owned by company insiders.
About American Superconductor
(
Free Report)
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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