Vanguard Group Inc. Raises Stock Holdings in American Superconductor Corporation $AMSC

Key Points

• Vanguard Group Inc. increased its stake in American Superconductor Corporation by 2.9%, owning approximately 5.80% of the company, worth about $41.5 million.
• A notable surge in institutional interest was observed, with companies like CWM LLC and GAMMA Investing LLC significantly increasing their holdings in American Superconductor.
• American Superconductor's stock has a market capitalization of $2.36 billion, with shares opening at $52.26, and analysts maintaining a consensus rating of "Buy" with a price target of $33.67.

Vanguard Group Inc. lifted its stake in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,287,585 shares of the technology company's stock after purchasing an additional 64,650 shares during the quarter. Vanguard Group Inc. owned about 5.80% of American Superconductor worth $41,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Driehaus Capital Management LLC boosted its position in shares of American Superconductor by 18.0% in the 4th quarter. Driehaus Capital Management LLC now owns 942,698 shares of the technology company's stock worth $23,219,000 after purchasing an additional 143,936 shares in the last quarter. Royce & Associates LP boosted its position in shares of American Superconductor by 3.4% in the 1st quarter. Royce & Associates LP now owns 867,342 shares of the technology company's stock worth $15,734,000 after purchasing an additional 28,410 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of American Superconductor by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 654,299 shares of the technology company's stock worth $16,117,000 after purchasing an additional 46,354 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of American Superconductor in the 4th quarter worth approximately $11,360,000. Finally, First Trust Advisors LP boosted its position in shares of American Superconductor by 15.0% in the 4th quarter. First Trust Advisors LP now owns 335,053 shares of the technology company's stock worth $8,252,000 after purchasing an additional 43,808 shares in the last quarter. 52.28% of the stock is owned by institutional investors.

American Superconductor Stock Performance

Shares of NASDAQ AMSC traded down $3.94 during midday trading on Monday, hitting $49.90. 1,107,603 shares of the stock traded hands, compared to its average volume of 1,027,471. The firm has a 50-day moving average of $45.73 and a two-hundred day moving average of $30.89. The firm has a market capitalization of $2.25 billion, a P/E ratio of 127.95 and a beta of 2.89. American Superconductor Corporation has a one year low of $13.98 and a one year high of $58.42.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CFO John W. Kosiba, Jr. sold 4,744 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $31.83, for a total transaction of $151,001.52. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the director directly owned 48,663 shares in the company, valued at approximately $2,477,919.96. This represents a 16.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,984 shares of company stock valued at $6,384,950 in the last ninety days. 4.80% of the stock is currently owned by company insiders.

American Superconductor 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.