Millennium Management LLC Decreases Position in American Superconductor Co. (NASDAQ:AMSC)

Millennium Management LLC lessened its holdings in American Superconductor Co. (NASDAQ:AMSC - Free Report) by 91.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,065 shares of the technology company's stock after selling 239,134 shares during the quarter. Millennium Management LLC owned 0.06% of American Superconductor worth $568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 acquiring an additional 3,506 shares during the last quarter. Gen Wealth Partners Inc bought a new stake in American Superconductor in the 4th quarter worth $58,000. Deutsche Bank AG grew its holdings in American Superconductor by 43.8% in the 4th 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 grew its holdings in American Superconductor by 18.0% in the 4th 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 grew its holdings in American Superconductor by 8.9% in the 4th quarter. Bosun Asset Management LLC now owns 54,239 shares of the technology company's stock worth $1,336,000 after acquiring an additional 4,415 shares during the last quarter. Hedge funds and other institutional investors own 52.28% of the company's stock.

Insider Buying and Selling

In other news, CFO John W. Kosiba, Jr. sold 50,000 shares of the company's stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel P. Mcgahn sold 122,655 shares of the company'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 transaction of $3,236,865.45. Following the completion of the transaction, the chief executive officer now owns 1,304,486 shares in the company, valued at approximately $34,425,385.54. This represents a 8.59% decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

American Superconductor Stock Down 1.2%

Shares of American Superconductor stock opened at $31.48 on Monday. The company's fifty day simple moving average is $21.96 and its two-hundred day simple moving average is $24.70. The firm has a market cap of $1.24 billion, a PE ratio of 449.78 and a beta of 2.87. American Superconductor Co. has a 12-month low of $13.98 and a 12-month high of $38.02.

American Superconductor (NASDAQ:AMSC - Get Free Report) last announced 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 net margin of 1.64% and a return on equity of 8.95%. The firm had revenue of $66.66 million for the quarter, compared to analyst estimates of $60.27 million. The business's revenue was up 58.6% compared to the same quarter last year. As a group, sell-side analysts expect that American Superconductor Co. will post 0.41 earnings per share for the current fiscal 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.

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