Panagora Asset Management Inc. Has $2.64 Million Stock Holdings in American Superconductor Corporation $AMSC

Key Points

• Panagora Asset Management Inc. significantly increased its holdings by 97.4%, acquiring 71,701 shares of American Superconductor Corporation, bringing its total ownership to 145,314 shares valued at approximately $2.64 million.
• American Superconductor's shares opened at $48.76 and experienced a decline of 2.3%, with a market cap of $2.20 billion and a twelve-month price range between $13.98 and $58.42.
• Wall Street analysts have a consensus buy rating for American Superconductor, with analysts upgrading their outlook, reflecting growing positive sentiment about the company's future growth potential.

Panagora Asset Management Inc. raised its position in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 97.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,314 shares of the technology company's stock after acquiring an additional 71,701 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.37% of American Superconductor worth $2,636,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Gen Wealth Partners Inc bought a new stake in shares of American Superconductor in the 4th quarter valued at about $58,000. CWM LLC boosted its stake in shares of American Superconductor by 49.5% during the 1st quarter. CWM LLC now owns 7,915 shares of the technology company's stock worth $144,000 after acquiring an additional 2,622 shares during the period. GAMMA Investing LLC increased its holdings in shares of American Superconductor by 3,089.8% during the 1st quarter. GAMMA Investing LLC now owns 8,453 shares of the technology company's stock worth $153,000 after acquiring an additional 8,188 shares during the last quarter. National Bank of Canada FI raised its stake in American Superconductor by 27.9% in the 1st quarter. National Bank of Canada FI now owns 9,506 shares of the technology company's stock valued at $172,000 after acquiring an additional 2,072 shares during the period. Finally, Acas LLC bought a new position in American Superconductor during the first quarter worth $184,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a research report on Tuesday, July 15th. Oppenheimer restated an "outperform" rating on shares of American Superconductor in a report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, American Superconductor presently has a consensus rating of "Buy" and a consensus target price of $33.67.

Insider Buying and Selling at American Superconductor

In related news, Director Arthur H. House sold 9,703 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $50.92, for a total value of $494,076.76. Following the transaction, the director owned 48,663 shares in the company, valued at approximately $2,477,919.96. This trade represents a 16.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel P. Mcgahn sold 100,848 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 1,183,134 shares of the company's stock, valued at $64,468,971.66. This 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 Performance

Shares of NASDAQ AMSC traded up $0.35 during midday trading on Friday, reaching $48.88. The company's stock had a trading volume of 633,533 shares, compared to its average volume of 917,769. The company has a market cap of $2.21 billion, a P/E ratio of 125.34 and a beta of 2.88. The business's 50 day moving average price is $46.82 and its two-hundred day moving average price is $31.37. American Superconductor Corporation has a fifty-two week low of $13.98 and a fifty-two week high of $58.42.

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.