American Superconductor Corporation $AMSC Stake Trimmed by Bosun Asset Management LLC

Key Points

• Bosun Asset Management LLC has reduced its stake in American Superconductor Corporation (AMSC) by 21.6%, selling 11,729 shares and holding 42,510 shares valued at approximately $771,000.
• Several institutional investors, including Vanguard Group and AWM Investment Company, have increased their positions in AMSC, reflecting a broader interest in the company's growth, with 52.28% of the stock currently owned by such investors.
• AMSC stock has been rated a "Buy" by analysts, with an average price target of $33.67, reflecting positive sentiment about the company's future prospects.

Bosun Asset Management LLC lowered its stake in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 21.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,510 shares of the technology company's stock after selling 11,729 shares during the quarter. Bosun Asset Management LLC owned about 0.11% of American Superconductor worth $771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in shares of 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 valued at $876,000 after purchasing an additional 709 shares in the last quarter. Sei Investments Co. lifted its stake in shares of American Superconductor by 1.9% in the 1st quarter. Sei Investments Co. now owns 53,070 shares of the technology company's stock valued at $963,000 after purchasing an additional 964 shares in the last quarter. Alps Advisors Inc. lifted its stake in shares of American Superconductor by 2.0% in the 1st quarter. Alps Advisors Inc. now owns 59,464 shares of the technology company's stock valued at $1,079,000 after purchasing an additional 1,160 shares in the last quarter. Sowell Financial Services LLC lifted its stake in shares of American Superconductor by 9.2% in the 1st quarter. Sowell Financial Services LLC now owns 16,459 shares of the technology company's stock valued at $299,000 after purchasing an additional 1,384 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of American Superconductor by 27.9% in the 1st quarter. National Bank of Canada FI now owns 9,506 shares of the technology company's stock valued at $172,000 after purchasing an additional 2,072 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMSC. Oppenheimer reaffirmed an "outperform" rating on shares of American Superconductor in a research note on Thursday, July 31st. Wall Street Zen raised American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $33.67.

American Superconductor Stock Performance

Shares of AMSC stock traded up $1.20 during trading hours on Monday, reaching $50.08. The company had a trading volume of 1,054,393 shares, compared to its average volume of 1,033,672. American Superconductor Corporation has a twelve month low of $13.98 and a twelve month high of $58.42. The company has a market capitalization of $2.26 billion, a P/E ratio of 128.41 and a beta of 2.89. The stock's fifty day simple moving average is $46.82 and its 200 day simple moving average is $31.39.

Insider Transactions at American Superconductor

In related news, CEO Daniel P. Mcgahn sold 100,848 shares of the business's stock in a transaction dated Monday, August 4th. The stock was 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 in the company, valued at approximately $64,468,971.66. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arthur H. House sold 9,703 shares of American Superconductor stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $50.92, for a total value of $494,076.76. Following the completion of the transaction, the director owned 48,663 shares of the company's stock, valued at $2,477,919.96. This trade represents a 16.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.

American Superconductor 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.