Baillie Gifford & Co. Has $27.55 Million Stock Position in American Superconductor Corporation (NASDAQ:AMSC)

Key Points

• Baillie Gifford & Co. reduced its stake in American Superconductor Corporation by 7.9%, now holding 1,518,890 shares valued at approximately $27.55 million.
• Insider trading activities show that CEO Daniel P. Mcgahn and CFO John W. Kosiba, Jr. both sold shares recently, with total insider sales reaching $4.95 million in the last quarter.
• American Superconductor's stock has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, supporting expectations for continued growth after reporting a 58.6% increase in revenue year-over-year.

Baillie Gifford & Co. trimmed its holdings in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,518,890 shares of the technology company's stock after selling 130,900 shares during the quarter. Baillie Gifford & Co. owned approximately 3.85% of American Superconductor worth $27,553,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AMSC. Driehaus Capital Management LLC grew its holdings in shares of American Superconductor by 18.0% in the fourth quarter. Driehaus Capital Management LLC now owns 942,698 shares of the technology company's stock valued at $23,219,000 after purchasing an additional 143,936 shares during the period. Royce & Associates LP lifted its stake in American Superconductor by 3.4% during the 1st quarter. Royce & Associates LP now owns 867,342 shares of the technology company's stock worth $15,734,000 after acquiring an additional 28,410 shares in the last quarter. Geode Capital Management LLC raised its position in American Superconductor by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 856,455 shares of the technology company's stock valued at $21,099,000 after purchasing an additional 9,043 shares in the last quarter. Dimensional Fund Advisors LP raised its position in American Superconductor by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 654,299 shares of the technology company's stock valued at $16,117,000 after purchasing an additional 46,354 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of American Superconductor during the 4th quarter worth about $11,360,000. 52.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th.

Insiders Place Their Bets

In other news, CFO John W. Kosiba, Jr. sold 50,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $26.40, for a total transaction of $1,320,000.00. Following the completion of the sale, the chief financial officer owned 414,276 shares in the company, valued at approximately $10,936,886.40. This represents a 10.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel P. Mcgahn sold 122,655 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $26.39, for a total value of $3,236,865.45. Following the completion of the sale, the chief executive officer owned 1,304,486 shares of the company's stock, valued at $34,425,385.54. The trade was a 8.59% decrease in their position. 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 currently owned by corporate insiders.

American Superconductor Price Performance

AMSC stock traded up $1.14 during trading on Wednesday, reaching $44.62. 307,298 shares of the stock traded hands, compared to its average volume of 994,446. The business's 50 day moving average price is $34.81 and its 200-day moving average price is $26.95. American Superconductor Corporation has a 52-week low of $13.98 and a 52-week high of $44.74. The firm has a market capitalization of $1.76 billion, a PE ratio of 296.87 and a beta of 2.91.

American Superconductor (NASDAQ:AMSC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $66.66 million for the quarter, compared to analysts' expectations of $60.27 million. American Superconductor had a return on equity of 8.89% and a net margin of 2.71%. The company's revenue was up 58.6% compared to the same quarter last year. On average, equities research analysts predict that American Superconductor Corporation will post 0.41 earnings per share for the current year.

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.