Allspring Global Investments Holdings LLC Sells 36,345 Shares of American Superconductor Corporation (NASDAQ:AMSC)

Allspring Global Investments Holdings LLC cut its stake in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,030 shares of the technology company's stock after selling 36,345 shares during the period. Allspring Global Investments Holdings LLC owned about 0.86% of American Superconductor worth $6,275,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AMSC. Gen Wealth Partners Inc bought a new position in shares of American Superconductor during the 4th quarter valued at approximately $58,000. SBI Securities Co. Ltd. purchased a new position in American Superconductor during the 4th quarter valued at about $65,000. PNC Financial Services Group Inc. boosted its stake in American Superconductor by 8,670.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company's stock valued at $73,000 after buying an additional 2,948 shares during the period. Jones Financial Companies Lllp boosted its position in shares of American Superconductor by 1,083.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company's stock valued at $73,000 after acquiring an additional 2,708 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of American Superconductor by 3,089.8% during the first quarter. GAMMA Investing LLC now owns 8,453 shares of the technology company's stock worth $153,000 after purchasing an additional 8,188 shares in the last quarter. 52.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered American Superconductor from a "buy" rating to a "hold" rating in a report on Monday.

American Superconductor Trading Up 2.5%

Shares of NASDAQ AMSC traded up $0.98 during midday trading on Wednesday, hitting $39.91. 857,238 shares of the company's stock were exchanged, compared to its average volume of 1,117,218. American Superconductor Corporation has a 12-month low of $13.98 and a 12-month high of $41.10. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 266.07 and a beta of 2.91. The business's fifty day moving average price is $29.37 and its two-hundred day moving average price is $25.45.

American Superconductor (NASDAQ:AMSC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $66.66 million during the quarter, compared to analyst estimates of $60.27 million. American Superconductor had a return on equity of 8.89% and a net margin of 2.71%. The business's revenue was up 58.6% compared to the same quarter last year. Equities analysts expect that American Superconductor Corporation will post 0.41 earnings per share for the current fiscal year.

Insider Activity at American Superconductor

In other American Superconductor news, CEO Daniel P. Mcgahn sold 7,689 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $31.82, for a total value of $244,663.98. Following the completion of the sale, the chief executive officer owned 1,296,797 shares of the company's stock, valued at $41,264,080.54. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 directly owned 409,532 shares of the company's stock, valued at approximately $13,035,403.56. This represents a 1.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety 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 Company 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.