Truvestments Capital LLC Purchases New Holdings in American Superconductor Corporation $AMSC

Key Points

• Truvestments Capital LLC invested $203,000 in American Superconductor Corporation by acquiring 11,176 shares in the first quarter.
• Multiple hedge funds have increased their stakes in American Superconductor, with institutional investors now owning 52.28% of the company's stock.
• American Superconductor recently received analyst upgrades, with Wall Street Zen moving its rating from "hold" to "buy" and an average price target of $33.67.

Truvestments Capital LLC bought a new stake in American Superconductor Corporation (NASDAQ:AMSC - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 11,176 shares of the technology company's stock, valued at approximately $203,000.

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

Insider Transactions at American Superconductor

In other news, CFO John W. Kosiba, Jr. sold 4,744 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $31.83, for a total value of $151,001.52. Following the completion of the sale, the chief financial officer directly owned 409,532 shares of the company's stock, valued at $13,035,403.56. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel P. Mcgahn sold 100,848 shares of the company's stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 122,984 shares of company stock valued at $6,384,950 over the last three months. Corporate insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

American Superconductor Price Performance

Shares of AMSC traded down $0.98 during trading hours on Tuesday, hitting $48.93. The stock had a trading volume of 560,037 shares, compared to its average volume of 1,036,046. American Superconductor Corporation has a 1-year low of $13.98 and a 1-year high of $58.42. The firm has a 50 day simple moving average of $45.73 and a 200-day simple moving average of $30.89. The firm has a market capitalization of $2.21 billion, a P/E ratio of 125.17 and a beta of 2.89.

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.