Palisades Investment Partners LLC Boosts Stock Holdings in American Superconductor Co. (NASDAQ:AMSC)

Palisades Investment Partners LLC grew its position in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,415 shares of the technology company's stock after purchasing an additional 12,317 shares during the period. American Superconductor makes up 1.5% of Palisades Investment Partners LLC's portfolio, making the stock its 24th biggest holding. Palisades Investment Partners LLC owned about 0.36% of American Superconductor worth $3,507,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Gen Wealth Partners Inc purchased a new position in shares of American Superconductor during the 4th quarter valued at $58,000. SBI Securities Co. Ltd. purchased a new position in shares of American Superconductor during the 4th quarter valued at $65,000. Jones Financial Companies Lllp grew its position in American Superconductor by 1,083.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company's stock worth $73,000 after acquiring an additional 2,708 shares in the last quarter. PNC Financial Services Group Inc. grew its position in American Superconductor by 8,670.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company's stock worth $73,000 after acquiring an additional 2,948 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in American Superconductor in the fourth quarter worth $170,000. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

American Superconductor Stock Up 6.4%

NASDAQ:AMSC traded up $1.62 during midday trading on Tuesday, hitting $26.90. The company had a trading volume of 847,124 shares, compared to its average volume of 1,129,633. American Superconductor Co. has a 52-week low of $13.98 and a 52-week high of $38.02. The stock's fifty day moving average price is $20.23 and its 200-day moving average price is $24.94. The company has a market capitalization of $1.06 billion, a PE ratio of 383.70 and a beta of 2.81.

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 (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. The company had revenue of $66.66 million during the quarter, compared to analyst estimates of $60.27 million. The firm's revenue for the quarter was up 58.6% compared to the same quarter last year. As a group, research analysts forecast that American Superconductor Co. will post 0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer upped their target price on shares of American Superconductor from $33.00 to $39.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th.

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.