Driehaus Capital Management LLC Reduces Stake 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 decreased its holdings in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 10.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 839,843 shares of the technology company's stock after selling 102,855 shares during the period. Driehaus Capital Management LLC owned approximately 2.13% of American Superconductor worth $15,235,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of American Superconductor by 13.0% during the fourth quarter. Barclays PLC now owns 65,903 shares of the technology company's stock valued at $1,623,000 after buying an additional 7,575 shares during the last quarter. Mariner LLC purchased a new stake in American Superconductor during the 4th quarter valued at about $202,000. Dimensional Fund Advisors LP grew its position in American Superconductor by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 654,299 shares of the technology company's stock worth $16,117,000 after acquiring an additional 46,354 shares during the last quarter. MetLife Investment Management LLC increased its stake 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 during the period. Finally, Stifel Financial Corp bought a new stake in American Superconductor in the fourth quarter valued at approximately $396,000. Hedge funds and other institutional investors own 52.28% of the company's stock.

American Superconductor Price Performance

NASDAQ:AMSC traded down $1.14 during trading hours on Tuesday, hitting $48.76. The company had a trading volume of 807,025 shares, compared to its average volume of 1,037,661. The company has a market capitalization of $2.20 billion, a PE ratio of 125.03 and a beta of 2.89. The stock has a 50-day moving average price of $46.04 and a 200 day moving average price of $31.02. American Superconductor Corporation has a 52 week low of $13.98 and a 52 week high of $58.42.

Insider Activity at American Superconductor

In other news, CEO Daniel P. Mcgahn sold 100,848 shares of the company'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 sale, the chief executive officer directly owned 1,183,134 shares of the company's stock, valued at $64,468,971.66. This represents a 7.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur H. House sold 9,703 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $50.92, for a total transaction 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. This represents a 16.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,984 shares of company stock worth $6,384,950 over the last ninety days. 4.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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