Baird Financial Group Inc. Buys 17,821 Shares of American Superconductor Corporation $AMSC

Key Points

• Baird Financial Group Inc. increased its stake in American Superconductor Corporation (AMSC) by 26.2%, owning 85,766 shares worth approximately $1.56 million after purchasing an additional 17,821 shares.
• Multiple institutional investors, including the National Bank of Canada FI and California State Teachers Retirement System, have also raised their holdings in American Superconductor, indicating growing institutional interest in the company.
• American Superconductor's stock currently has an average rating of “Buy” from analysts, with a consensus price target of $33.67, reflecting positive sentiment for its future performance.

Baird Financial Group Inc. increased its stake in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 26.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,766 shares of the technology company's stock after purchasing an additional 17,821 shares during the quarter. Baird Financial Group Inc. owned approximately 0.22% of American Superconductor worth $1,556,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in American Superconductor by 2.0% in the 4th quarter. California State Teachers Retirement System now owns 35,559 shares of the technology company's stock worth $876,000 after purchasing an additional 709 shares during the period. Sei Investments Co. raised its holdings in American Superconductor by 1.9% in the 1st quarter. Sei Investments Co. now owns 53,070 shares of the technology company's stock worth $963,000 after purchasing an additional 964 shares during the period. Alps Advisors Inc. raised its holdings in American Superconductor by 2.0% in the 1st quarter. Alps Advisors Inc. now owns 59,464 shares of the technology company's stock worth $1,079,000 after purchasing an additional 1,160 shares during the period. Sowell Financial Services LLC raised its holdings in American Superconductor by 9.2% in the 1st quarter. Sowell Financial Services LLC now owns 16,459 shares of the technology company's stock worth $299,000 after purchasing an additional 1,384 shares during the period. Finally, National Bank of Canada FI raised its holdings in American Superconductor by 27.9% during 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 during the period. 52.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Transactions at American Superconductor

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

American Superconductor Stock Up 0.7%

Shares of American Superconductor stock opened at $48.88 on Monday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 125.34 and a beta of 2.89. The business has a 50-day moving average price of $46.82 and a 200-day moving average price of $31.39. American Superconductor Corporation has a twelve month low of $13.98 and a twelve month high of $58.42.

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.

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