GAMMA Investing LLC Purchases 8,188 Shares of American Superconductor Corporation (NASDAQ:AMSC)

GAMMA Investing LLC grew its position in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 3,089.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,453 shares of the technology company's stock after purchasing an additional 8,188 shares during the period. GAMMA Investing LLC's holdings in American Superconductor were worth $153,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMSC. Gen Wealth Partners Inc bought a new stake in American Superconductor during the fourth quarter worth about $58,000. SBI Securities Co. Ltd. bought a new stake in American Superconductor during the fourth quarter worth about $65,000. Jones Financial Companies Lllp lifted its stake in American Superconductor by 1,083.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company's stock worth $73,000 after purchasing an additional 2,708 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in American Superconductor by 8,670.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company's stock worth $73,000 after purchasing an additional 2,948 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in American Superconductor during the fourth quarter worth about $170,000. Institutional investors own 52.28% of the company's stock.

Insider Activity

In related news, CEO Daniel P. Mcgahn sold 7,689 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $31.82, for a total transaction of $244,663.98. Following the transaction, the chief executive officer now owns 1,296,797 shares in the company, valued at $41,264,080.54. The trade was a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $26.40, for a total value of $1,320,000.00. Following the transaction, the chief financial officer now owns 414,276 shares in the company, valued at approximately $10,936,886.40. This represents a 10.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,088 shares of company stock valued at $4,952,531. Insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered American Superconductor from a "buy" rating to a "hold" rating in a research note on Saturday.

American Superconductor Trading Up 6.6%

NASDAQ AMSC opened at $32.42 on Tuesday. American Superconductor Corporation has a 1-year low of $13.98 and a 1-year high of $38.02. The stock has a 50-day moving average of $24.93 and a 200-day moving average of $24.49. The firm has a market cap of $1.28 billion, a PE ratio of 216.13 and a beta of 2.87.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. American Superconductor had a return on equity of 8.89% and a net margin of 2.71%. The company had revenue of $66.66 million during the quarter, compared to analyst estimates of $60.27 million. The company's revenue for the quarter was up 58.6% on a year-over-year basis. As a group, equities research analysts forecast that American Superconductor Corporation will post 0.41 earnings per share for the current fiscal year.

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.

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