Essex Investment Management Co. LLC Has $6.75 Million Stake in American Superconductor Corporation (NASDAQ:AMSC)

Key Points

• Essex Investment Management Co. LLC reduced its holdings in American Superconductor Corporation by 13.4%, now owning approximately 372,221 shares valued at $6.75 million, representing 1.4% of its investment portfolio.
• Institutional investors own around 52.28% of American Superconductor, with recent increases from firms such as Driehaus Capital Management and Royce & Associates.
• American Superconductor's stock has seen significant growth, reporting a 58.6% increase in revenue year-over-year and beating EPS estimates, leading to a recent analyst rating upgrade from "hold" to "buy."

Essex Investment Management Co. LLC lowered its holdings in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 13.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 372,221 shares of the technology company's stock after selling 57,655 shares during the period. American Superconductor accounts for 1.4% of Essex Investment Management Co. LLC's investment portfolio, making the stock its 9th biggest position. Essex Investment Management Co. LLC owned about 0.94% of American Superconductor worth $6,752,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMSC. Gen Wealth Partners Inc purchased a new stake in American Superconductor during the fourth quarter valued at about $58,000. KLP Kapitalforvaltning AS purchased a new stake in American Superconductor during the fourth quarter valued at about $170,000. Tradewinds LLC. purchased a new stake in American Superconductor during the fourth quarter valued at about $176,000. National Bank of Canada FI grew its position in American Superconductor by 25.0% during the fourth quarter. National Bank of Canada FI now owns 7,434 shares of the technology company's stock valued at $183,000 after acquiring an additional 1,485 shares during the period. Finally, CWM LLC grew its position in American Superconductor by 49.5% during the first quarter. CWM LLC now owns 7,915 shares of the technology company's stock valued at $144,000 after acquiring an additional 2,622 shares during the period. Hedge funds and other institutional investors own 52.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Oppenheimer restated an "outperform" rating on shares of American Superconductor in a research note on Thursday. Wall Street Zen upgraded American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th.

Insider Activity at American Superconductor

In other American Superconductor news, CEO Daniel P. Mcgahn sold 7,689 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $31.82, for a total transaction of $244,663.98. Following the sale, the chief executive officer owned 1,296,797 shares in the company, valued at $41,264,080.54. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $31.83, for a total value of $151,001.52. Following the sale, the chief financial officer owned 409,532 shares in the company, valued at $13,035,403.56. The trade was a 1.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,088 shares of company stock worth $4,952,531 in the last 90 days. 4.80% of the stock is currently owned by insiders.

American Superconductor Trading Down 5.6%

Shares of AMSC traded down $3.19 during midday trading on Friday, reaching $53.67. 1,920,459 shares of the company were exchanged, compared to its average volume of 1,036,835. American Superconductor Corporation has a 1-year low of $13.98 and a 1-year high of $57.85. The stock has a 50-day moving average price of $35.84 and a 200-day moving average price of $27.28. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 137.62 and a beta of 2.91.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly 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. American Superconductor had a return on equity of 11.06% and a net margin of 6.00%. The business had revenue of $66.66 million for the quarter, compared to analysts' expectations of $60.27 million. The business's revenue for the quarter was up 58.6% on a year-over-year basis. Equities research analysts anticipate that American Superconductor Corporation will post 0.41 earnings per share for the current year.

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.