Kestra Private Wealth Services LLC bought a new stake in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,331 shares of the technology company's stock, valued at approximately $187,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Acas LLC bought a new stake in American Superconductor during the 1st quarter valued at $184,000. CWM LLC boosted its position in American Superconductor by 49.5% during the 1st 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 in the last quarter. Emerald Advisers LLC boosted its position in American Superconductor by 37.7% during the 1st quarter. Emerald Advisers LLC now owns 38,719 shares of the technology company's stock valued at $702,000 after acquiring an additional 10,600 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in American Superconductor by 52.2% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 12,597 shares of the technology company's stock valued at $229,000 after acquiring an additional 4,320 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in American Superconductor by 2.0% during the 1st quarter. Alps Advisors Inc. now owns 59,464 shares of the technology company's stock valued at $1,079,000 after acquiring an additional 1,160 shares in the last quarter. Institutional investors own 52.28% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on AMSC. Wall Street Zen raised American Superconductor from a "hold" rating to a "buy" rating in a research report on Tuesday, July 15th. Oppenheimer reiterated an "outperform" rating on shares of American Superconductor in a report on Thursday.
Read Our Latest Research Report on AMSC
American Superconductor Trading Down 3.6%
Shares of AMSC traded down $2.04 during midday trading on Friday, hitting $54.82. 1,285,621 shares of the company's stock traded hands, compared to its average volume of 1,032,092. American Superconductor Corporation has a 1 year low of $13.98 and a 1 year high of $57.85. The firm's fifty day moving average is $35.84 and its 200-day moving average is $27.28. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 140.38 and a beta of 2.91.
American Superconductor (NASDAQ:AMSC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 EPS for the quarter, beating 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 firm had revenue of $66.66 million during the quarter, compared to analyst estimates of $60.27 million. The company's quarterly revenue was up 58.6% on a year-over-year basis. On average, equities research analysts anticipate that American Superconductor Corporation will post 0.41 EPS for the current year.
Insiders Place Their Bets
In related news, CEO Daniel P. Mcgahn sold 122,655 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $26.39, for a total value of $3,236,865.45. Following the completion of the transaction, the chief executive officer owned 1,304,486 shares in the company, valued at $34,425,385.54. This trade represents a 8.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $26.40, for a total value of $1,320,000.00. Following the completion of the transaction, the chief financial officer owned 414,276 shares of the company's stock, valued at $10,936,886.40. This trade represents a 10.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,088 shares of company stock valued at $4,952,531 in the last 90 days. 4.80% of the stock is currently owned by company insiders.
American Superconductor Profile
(
Free Report)
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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