Strs Ohio Acquires New Shares in American Superconductor Corporation $AMSC

Key Points

• Strs Ohio acquired a new stake in American Superconductor Corporation (NASDAQ: AMSC), purchasing 20,900 shares valued at approximately $379,000.
• Multiple institutional investors, including Goldman Sachs and Millennium Management, significantly increased their stakes in American Superconductor during the first quarter, indicating heightened interest in the company.
• Analysts have upgraded American Superconductor's rating, with an average price target of $34.00, suggesting a positive outlook for the stock.

Strs Ohio acquired a new stake in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,900 shares of the technology company's stock, valued at approximately $379,000. Strs Ohio owned 0.05% of American Superconductor at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in American Superconductor by 54.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 481,961 shares of the technology company's stock valued at $8,743,000 after purchasing an additional 170,243 shares during the period. Jones Financial Companies Lllp raised its stake in American Superconductor by 3,280.5% during the 1st quarter. Jones Financial Companies Lllp now owns 99,994 shares of the technology company's stock valued at $1,814,000 after acquiring an additional 97,036 shares in the last quarter. Millennium Management LLC raised its stake in American Superconductor by 878.5% during the 1st quarter. Millennium Management LLC now owns 225,682 shares of the technology company's stock valued at $4,094,000 after acquiring an additional 202,617 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in American Superconductor by 13.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,295 shares of the technology company's stock valued at $459,000 after acquiring an additional 2,989 shares in the last quarter. Finally, AWM Investment Company Inc. raised its stake in American Superconductor by 3.0% during the 1st quarter. AWM Investment Company Inc. now owns 1,558,478 shares of the technology company's stock valued at $28,271,000 after acquiring an additional 45,000 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company's stock.

Insider Activity

In related news, CEO Daniel P. Mcgahn sold 100,848 shares of the business'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 completion of the transaction, the chief executive officer owned 1,183,134 shares of the company's stock, valued at approximately $64,468,971.66. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur H. House sold 9,703 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $50.92, for a total value of $494,076.76. Following the completion of the transaction, the director directly owned 48,663 shares of the company's stock, valued at approximately $2,477,919.96. This trade represents a 16.62% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on AMSC shares. Wall Street Zen raised American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th. Oppenheimer reaffirmed an "outperform" rating on shares of American Superconductor in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $34.00.

American Superconductor Price Performance

Shares of NASDAQ AMSC opened at $64.63 on Tuesday. The company has a market capitalization of $2.92 billion, a P/E ratio of 165.72 and a beta of 2.89. The business's 50-day moving average price is $50.76 and its two-hundred day moving average price is $34.10. American Superconductor Corporation has a one year low of $13.98 and a one year high of $65.70.

About American Superconductor

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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