NewEdge Advisors LLC Buys 23,645 Shares of American Superconductor Co. (NASDAQ:AMSC)

NewEdge Advisors LLC increased its position in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) by 732.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,874 shares of the technology company's stock after purchasing an additional 23,645 shares during the quarter. NewEdge Advisors LLC owned approximately 0.07% of American Superconductor worth $662,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AMSC. SBI Securities Co. Ltd. acquired a new position in American Superconductor during the 4th quarter worth about $65,000. Jones Financial Companies Lllp increased its holdings in shares of American Superconductor by 1,083.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company's stock valued at $73,000 after purchasing an additional 2,708 shares in the last quarter. PNC Financial Services Group Inc. raised its position in American Superconductor by 8,670.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company's stock worth $73,000 after purchasing an additional 2,948 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in American Superconductor during the 4th quarter worth $170,000. Finally, Tradewinds LLC. bought a new position in American Superconductor in the 4th quarter valued at $176,000. 52.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer boosted their target price on American Superconductor from $33.00 to $39.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th.

American Superconductor Stock Up 6.1 %

NASDAQ AMSC traded up $1.23 during trading hours on Friday, hitting $21.52. The company's stock had a trading volume of 149,433 shares, compared to its average volume of 1,105,384. The stock has a fifty day moving average of $19.19 and a 200 day moving average of $25.24. American Superconductor Co. has a twelve month low of $12.57 and a twelve month high of $38.02. The firm has a market capitalization of $849.18 million, a P/E ratio of 305.54 and a beta of 2.58.

American Superconductor (NASDAQ:AMSC - Get Free Report) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. On average, analysts predict that American Superconductor Co. will post 0.41 earnings per share for the current year.

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.