Driehaus Capital Management LLC Reduces Holdings in American Superconductor Corporation $AMSC

Key Points

• Driehaus Capital Management LLC reduced its stake in American Superconductor by 10.9%, selling 102,855 shares, and now holds about 2.13% of the company valued at $15.2 million.
• Several institutional investors, including California State Teachers Retirement System and Sei Investments Co., have recently increased their positions in American Superconductor, with institutional ownership now at 52.28%.
• American Superconductor has received positive ratings from analysts, with three highlighting "buy" ratings and an average target price of $33.67.

Driehaus Capital Management LLC lowered its position in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 10.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 839,843 shares of the technology company's stock after selling 102,855 shares during the period. Driehaus Capital Management LLC owned about 2.13% of American Superconductor worth $15,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gen Wealth Partners Inc bought a new stake in American Superconductor during the 4th quarter worth $58,000. CWM LLC grew its position in shares of American Superconductor by 49.5% in the 1st quarter. CWM LLC now owns 7,915 shares of the technology company's stock valued at $144,000 after buying an additional 2,622 shares during the last quarter. GAMMA Investing LLC grew its position in shares of American Superconductor by 3,089.8% in the 1st quarter. GAMMA Investing LLC now owns 8,453 shares of the technology company's stock valued at $153,000 after buying an additional 8,188 shares during the last quarter. National Bank of Canada FI grew its position 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 buying an additional 2,072 shares during the last quarter. Finally, Acas LLC bought a new stake in shares of American Superconductor in the 1st quarter valued at about $184,000. Institutional investors own 52.28% of the company's stock.

American Superconductor Stock Performance

Shares of NASDAQ:AMSC traded down $0.70 during midday trading on Thursday, reaching $47.94. The company's stock had a trading volume of 280,653 shares, compared to its average volume of 1,031,147. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 122.98 and a beta of 2.88. The firm has a 50 day moving average price of $46.33 and a two-hundred day moving average price of $31.14. American Superconductor Corporation has a fifty-two week low of $13.98 and a fifty-two week high of $58.42.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Arthur H. House sold 9,703 shares of the business's 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 transaction, the director directly owned 48,663 shares of the company's stock, valued at $2,477,919.96. The trade was a 16.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $31.83, for a total value of $151,001.52. Following the completion of the transaction, the chief financial officer directly owned 409,532 shares in the company, valued at $13,035,403.56. This represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,984 shares of company stock valued at $6,384,950 in the last ninety days. 4.80% of the stock is owned by company insiders.

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.