American Superconductor Co. (NASDAQ:AMSC) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its holdings in American Superconductor Co. (NASDAQ:AMSC - Free Report) by 68.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,267 shares of the technology company's stock after purchasing an additional 13,899 shares during the quarter. Wells Fargo & Company MN owned about 0.09% of American Superconductor worth $844,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of American Superconductor during the fourth quarter worth approximately $65,000. Jones Financial Companies Lllp boosted its stake in American Superconductor by 1,083.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company's stock worth $73,000 after purchasing an additional 2,708 shares during the period. PNC Financial Services Group Inc. grew its position in American Superconductor by 8,670.6% during 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 in the fourth quarter valued at $170,000. Finally, Tradewinds LLC. purchased a new stake in shares of American Superconductor in the fourth quarter valued at about $176,000. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

American Superconductor Stock Up 4.0 %

Shares of NASDAQ AMSC traded up $0.81 during mid-day trading on Friday, hitting $21.10. 505,895 shares of the company were exchanged, compared to its average volume of 1,109,601. The stock has a 50 day simple moving average of $19.17 and a 200-day simple moving average of $25.22. American Superconductor Co. has a 1-year low of $13.07 and a 1-year high of $38.02. The firm has a market cap of $832.61 million, a price-to-earnings ratio of 301.47 and a beta of 2.58.

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