Connor Clark & Lunn Investment Management Ltd. Sells 168,679 Shares of American Superconductor Corporation $AMSC

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in American Superconductor by 60.8%, selling 168,679 shares and leaving it with 108,571 shares valued at approximately $1.97 million.
• Insider trading was noted, with CEO Daniel P. Mcgahn selling 122,655 shares, while other executives also offloaded significant stakes, totaling nearly $10.9 million in the last 90 days.
• Despite the sell-off by insiders, analysts upgraded shares of American Superconductor from a "hold" to a "buy" rating, highlighting strong earnings and an expected future growth potential.

Connor Clark & Lunn Investment Management Ltd. lessened its position in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 60.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,571 shares of the technology company's stock after selling 168,679 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.28% of American Superconductor worth $1,969,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System increased 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 in the last quarter. Alps Advisors Inc. increased 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 in the last quarter. Sowell Financial Services LLC increased 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 in the last quarter. MetLife Investment Management LLC increased its holdings in American Superconductor by 7.2% in the 4th quarter. MetLife Investment Management LLC now owns 21,201 shares of the technology company's stock worth $522,000 after purchasing an additional 1,415 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in 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 worth $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.

Insiders Place Their Bets

In other American Superconductor news, Director Arthur H. House sold 9,703 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $50.92, for a total value of $494,076.76. Following the transaction, the director owned 48,663 shares in the company, valued at approximately $2,477,919.96. This represents a 16.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $26.40, for a total value of $1,320,000.00. Following the completion of the transaction, the chief financial officer owned 414,276 shares in the company, valued at approximately $10,936,886.40. The trade was a 10.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,639 shares of company stock worth $10,941,815. Corporate insiders own 4.80% of the company's stock.

American Superconductor Trading Down 6.0%

NASDAQ AMSC traded down $3.2260 during trading hours on Tuesday, hitting $50.2340. 565,382 shares of the company's stock were exchanged, compared to its average volume of 1,040,602. The stock has a 50-day simple moving average of $41.79 and a 200 day simple moving average of $29.48. American Superconductor Corporation has a 1-year low of $13.98 and a 1-year high of $58.42. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 128.54 and a beta of 2.95.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its earnings results 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 business had revenue of $66.66 million during the quarter, compared to analysts' expectations of $60.27 million. American Superconductor had a return on equity of 9.35% and a net margin of 6.00%.The business's quarterly revenue was up 58.6% compared to the same quarter last year. American Superconductor has set its Q1 2025 guidance at 0.100-0.100 EPS. On average, sell-side analysts anticipate that American Superconductor Corporation will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About American Superconductor

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.