American Superconductor Corporation $AMSC Shares Sold by Ieq Capital LLC

Key Points

• Ieq Capital LLC has reduced its stake in American Superconductor Corporation by 43.0%, leaving it with 13,006 shares valued at approximately $236,000.
• Several institutional investors have increased their holdings in AMSC, including SG Americas Securities LLC, which raised its position by 104.8% during the same period, highlighting strong interest in the company.
• Despite recent insider sales, Wall Street analysts maintain a consensus rating of "Buy" for American Superconductor, reflecting optimistic future growth prospects.

Ieq Capital LLC lowered its stake in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 43.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,006 shares of the technology company's stock after selling 9,829 shares during the period. Ieq Capital LLC's holdings in American Superconductor were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Gen Wealth Partners Inc purchased a new stake in American Superconductor during the fourth quarter worth about $58,000. CWM LLC lifted its holdings in shares of American Superconductor by 49.5% in the first quarter. CWM LLC now owns 7,915 shares of the technology company's stock valued at $144,000 after purchasing an additional 2,622 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of American Superconductor by 3,089.8% in the first quarter. GAMMA Investing LLC now owns 8,453 shares of the technology company's stock valued at $153,000 after purchasing an additional 8,188 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of American Superconductor by 27.9% in the first quarter. National Bank of Canada FI now owns 9,506 shares of the technology company's stock valued at $172,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Acas LLC purchased a new stake in shares of American Superconductor in the first quarter valued at about $184,000. Hedge funds and other institutional investors own 52.28% of the company's stock.

Insider Activity at American Superconductor

In related news, Director Arthur H. House sold 9,703 shares of the company'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 completion of the transaction, the director owned 48,663 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel P. Mcgahn sold 100,848 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $54.49, for a total transaction of $5,495,207.52. Following the transaction, the chief executive officer directly owned 1,183,134 shares of the company's stock, valued at $64,468,971.66. This trade represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company's stock.

American Superconductor Stock Up 2.9%

Shares of NASDAQ:AMSC traded up $1.60 during trading on Friday, reaching $56.32. The stock had a trading volume of 1,327,255 shares, compared to its average volume of 866,651. The business has a fifty day moving average price of $48.25 and a 200-day moving average price of $32.27. The stock has a market cap of $2.54 billion, a P/E ratio of 144.41 and a beta of 2.88. 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

Several analysts have issued reports on the stock. Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a report on Tuesday, July 15th. Oppenheimer reaffirmed an "outperform" rating on shares of American Superconductor in a report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $34.00.

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.