PFG Investments LLC Purchases 7,550 Shares of American Superconductor Corporation (NASDAQ:AMSC)

PFG Investments LLC increased its position in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 66.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,900 shares of the technology company's stock after purchasing an additional 7,550 shares during the quarter. PFG Investments LLC's holdings in American Superconductor were worth $343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMSC. Rhumbline Advisers boosted its holdings in American Superconductor by 1.2% during the fourth quarter. Rhumbline Advisers now owns 51,119 shares of the technology company's stock worth $1,259,000 after purchasing an additional 606 shares during the last quarter. Truist Financial Corp purchased a new position in American Superconductor in the fourth quarter valued at about $251,000. Atria Wealth Solutions Inc. boosted its stake in American Superconductor by 4.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 12,475 shares of the technology company's stock valued at $307,000 after acquiring an additional 500 shares during the last quarter. New York State Common Retirement Fund boosted its stake in American Superconductor by 3.8% in the fourth quarter. New York State Common Retirement Fund now owns 66,536 shares of the technology company's stock valued at $1,639,000 after acquiring an additional 2,436 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new position in American Superconductor in the fourth quarter valued at about $264,000. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

American Superconductor Stock Performance

AMSC traded down $0.24 during midday trading on Friday, reaching $36.44. The company had a trading volume of 1,778,110 shares, compared to its average volume of 1,121,352. The stock has a market cap of $1.44 billion, a PE ratio of 242.93 and a beta of 2.87. American Superconductor Corporation has a 12-month low of $13.98 and a 12-month high of $38.02. The business has a 50-day moving average price of $26.27 and a two-hundred day moving average price of $24.71.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released 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 2.71% and a return on equity of 8.89%. The firm had revenue of $66.66 million for the quarter, compared to analysts' expectations of $60.27 million. American Superconductor's revenue was up 58.6% on a year-over-year basis. On average, research analysts anticipate that American Superconductor Corporation will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of American Superconductor from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st.

Insider Activity

In other news, CFO John W. Kosiba, Jr. sold 50,000 shares of the business'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 sale, the chief financial officer now owns 414,276 shares of the company's stock, valued at $10,936,886.40. The trade was a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Daniel P. Mcgahn sold 7,689 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $31.82, for a total transaction of $244,663.98. Following the sale, the chief executive officer now directly owns 1,296,797 shares in the company, valued at $41,264,080.54. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,088 shares of company stock valued at $4,952,531 over the last quarter. Company insiders own 4.80% of the company's stock.

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.