Atreides Management LP Takes Position in American Superconductor Corporation $AMSC

Key Points

• Atreides Management LP acquired 824,040 shares of American Superconductor Corporation, valued at approximately $14.9 million, representing a 2.09% ownership stake as of the latest SEC filing.
• The stock has recently seen a 7.3% decline in value, currently trading at approximately $49.90 with a market capitalization of $2.25 billion.
• Analysts have upgraded the stock from a "hold" to a "buy" rating, resulting in a consensus rating of "Buy" with an average target price of $33.67.

Atreides Management LP bought a new stake in American Superconductor Corporation (NASDAQ:AMSC - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 824,040 shares of the technology company's stock, valued at approximately $14,948,000. Atreides Management LP owned 2.09% of American Superconductor at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMSC. Gen Wealth Partners Inc purchased a new stake in shares of American Superconductor during the fourth quarter worth $58,000. CWM LLC raised its holdings in American Superconductor by 49.5% in the first quarter. CWM LLC now owns 7,915 shares of the technology company's stock valued at $144,000 after acquiring an additional 2,622 shares in the last quarter. Mariner LLC acquired a new stake in American Superconductor in the fourth quarter valued at approximately $202,000. GAMMA Investing LLC raised its holdings in American Superconductor by 3,089.8% in the first quarter. GAMMA Investing LLC now owns 8,453 shares of the technology company's stock valued at $153,000 after acquiring an additional 8,188 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in American Superconductor by 27.9% in the first quarter. National Bank of Canada FI now owns 9,506 shares of the technology company's stock valued at $172,000 after acquiring an additional 2,072 shares in the last quarter. Hedge funds and other institutional investors own 52.28% of the company's stock.

Insider Transactions at American Superconductor

In other news, Director Arthur H. House sold 9,703 shares of American Superconductor stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $50.92, for a total transaction of $494,076.76. Following the completion of the sale, the director owned 48,663 shares of the company's stock, valued at approximately $2,477,919.96. The trade was a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel P. Mcgahn sold 100,848 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $54.49, for a total transaction of $5,495,207.52. Following the transaction, the chief executive officer owned 1,183,134 shares of the company's stock, valued at $64,468,971.66. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.80% of the company's stock.

Analyst Ratings Changes

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

American Superconductor Stock Performance

NASDAQ:AMSC traded up $0.35 during trading on Friday, reaching $48.88. The company's stock had a trading volume of 633,533 shares, compared to its average volume of 917,769. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 125.34 and a beta of 2.88. American Superconductor Corporation has a 12 month low of $13.98 and a 12 month high of $58.42. The firm has a 50 day moving average of $46.82 and a 200-day moving average of $31.37.

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.