Trexquant Investment LP Invests $4.40 Million in American Superconductor Corporation $AMSC

Key Points

• Trexquant Investment LP has acquired a new position in American Superconductor Corporation, investing approximately $4.4 million by purchasing 242,369 shares in the first quarter.
• Despite growth in institutional ownership, shares of American Superconductor have recently decreased by 7.3%, currently trading at $49.90 with a market cap of $2.25 billion.
• Analysts have upgraded the stock's rating, with an average price target of $33.67 indicating positive outlook for American Superconductor's future performance.

Trexquant Investment LP purchased a new position in shares of American Superconductor Corporation (NASDAQ:AMSC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 242,369 shares of the technology company's stock, valued at approximately $4,397,000. Trexquant Investment LP owned 0.61% of American Superconductor at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in shares of American Superconductor by 2.0% during the 4th quarter. California State Teachers Retirement System now owns 35,559 shares of the technology company's stock worth $876,000 after acquiring an additional 709 shares during the period. Sei Investments Co. lifted its holdings in shares of American Superconductor by 1.9% during the 1st quarter. Sei Investments Co. now owns 53,070 shares of the technology company's stock worth $963,000 after acquiring an additional 964 shares during the period. Alps Advisors Inc. increased its position in American Superconductor by 2.0% during the 1st quarter. Alps Advisors Inc. now owns 59,464 shares of the technology company's stock worth $1,079,000 after purchasing an additional 1,160 shares in the last quarter. Sowell Financial Services LLC increased its position in American Superconductor by 9.2% during the 1st quarter. Sowell Financial Services LLC now owns 16,459 shares of the technology company's stock worth $299,000 after purchasing an additional 1,384 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in American Superconductor by 7.2% during the 4th quarter. MetLife Investment Management LLC now owns 21,201 shares of the technology company's stock worth $522,000 after purchasing an additional 1,415 shares in the last quarter. Institutional investors own 52.28% of the company's stock.

American Superconductor Stock Down 0.2%

NASDAQ AMSC traded down $0.10 on Thursday, hitting $48.53. The company's stock had a trading volume of 1,076,482 shares, compared to its average volume of 1,035,946. American Superconductor Corporation has a 1-year low of $13.98 and a 1-year high of $58.42. The company's 50-day moving average is $46.33 and its 200 day moving average is $31.14. The firm has a market cap of $2.19 billion, a PE ratio of 124.44 and a beta of 2.88.

Insider Buying and Selling at American Superconductor

In other American Superconductor news, CEO Daniel P. Mcgahn sold 100,848 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $54.49, for a total value of $5,495,207.52. Following the completion of the transaction, the chief executive officer directly owned 1,183,134 shares in the company, valued at approximately $64,468,971.66. This represents a 7.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $494,076.76. Following the completion of the transaction, the director 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,984 shares of company stock worth $6,384,950. 4.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Oppenheimer reiterated an "outperform" rating on shares of American Superconductor in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of American Superconductor from a "hold" rating to a "buy" rating in a research report on Tuesday, July 15th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $33.67.

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.