Man Group plc decreased its stake in American Superconductor Co. (NASDAQ:AMSC - Free Report) by 64.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,051 shares of the technology company's stock after selling 22,167 shares during the quarter. Man Group plc's holdings in American Superconductor were worth $297,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in American Superconductor by 18.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,306 shares of the technology company's stock worth $549,000 after buying an additional 3,506 shares during the last quarter. Gen Wealth Partners Inc purchased a new position in shares of American Superconductor in the fourth quarter valued at approximately $58,000. Deutsche Bank AG boosted its stake in shares of American Superconductor by 43.8% in the fourth quarter. Deutsche Bank AG now owns 32,913 shares of the technology company's stock worth $811,000 after acquiring an additional 10,029 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of American Superconductor by 18.0% in the fourth quarter. Driehaus Capital Management LLC now owns 942,698 shares of the technology company's stock worth $23,219,000 after acquiring an additional 143,936 shares during the last quarter. Finally, Bosun Asset Management LLC increased its position in shares of American Superconductor by 8.9% during the fourth quarter. Bosun Asset Management LLC now owns 54,239 shares of the technology company's stock worth $1,336,000 after purchasing an additional 4,415 shares in the last quarter. Hedge funds and other institutional investors own 52.28% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Oppenheimer raised their price objective on American Superconductor from $33.00 to $39.00 and gave the company an "outperform" rating in a report on Friday, February 7th.
Get Our Latest Report on AMSC
American Superconductor Stock Up 0.9%
Shares of American Superconductor stock traded up $0.24 on Friday, hitting $28.28. 975,674 shares of the company were exchanged, compared to its average volume of 1,118,783. The company has a 50-day moving average price of $20.80 and a 200 day moving average price of $24.73. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 404.06 and a beta of 2.81. American Superconductor Co. has a 1-year low of $13.98 and a 1-year high of $38.02.
American Superconductor (NASDAQ:AMSC - Get Free Report) last issued its earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. The business had revenue of $66.66 million during the quarter, compared to the consensus estimate of $60.27 million. American Superconductor's revenue for the quarter was up 58.6% compared to the same quarter last year. Research analysts forecast that American Superconductor Co. will post 0.41 EPS for the current year.
Insider Buying and Selling at American Superconductor
In other American Superconductor news, CEO Daniel P. Mcgahn sold 122,655 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,304,486 shares of the company's stock, valued at $34,425,385.54. The trade was a 8.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of the company'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 transaction, the chief financial officer now owns 414,276 shares in the company, valued at $10,936,886.40. This trade represents a 10.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.
About American Superconductor
(
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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