Raymond James Financial Services Advisors Inc. decreased its holdings in American Superconductor Co. (NASDAQ:AMSC – Free Report) by 12.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,746 shares of the technology company’s stock after selling 1,763 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in American Superconductor were worth $80,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. UBS Group AG increased its stake in American Superconductor by 28.6% in the 4th quarter. UBS Group AG now owns 10,986 shares of the technology company’s stock valued at $40,000 after buying an additional 2,445 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of American Superconductor in the first quarter worth $61,000. Cubist Systematic Strategies LLC raised its holdings in shares of American Superconductor by 31.0% during the first quarter. Cubist Systematic Strategies LLC now owns 14,404 shares of the technology company’s stock worth $71,000 after acquiring an additional 3,406 shares in the last quarter. AQR Capital Management LLC acquired a new stake in American Superconductor during the second quarter valued at $72,000. Finally, PDT Partners LLC grew its stake in American Superconductor by 58.7% in the fourth quarter. PDT Partners LLC now owns 21,177 shares of the technology company’s stock valued at $78,000 after purchasing an additional 7,833 shares in the last quarter. 43.23% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
AMSC has been the subject of several research reports. StockNews.com assumed coverage on American Superconductor in a report on Thursday, October 5th. They set a “hold” rating for the company. Roth Mkm boosted their target price on shares of American Superconductor from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, August 14th.
American Superconductor Price Performance
Shares of NASDAQ:AMSC opened at $8.10 on Wednesday. The stock has a market capitalization of $245.59 million, a P/E ratio of -9.31 and a beta of 1.61. The business has a 50-day moving average of $7.31 and a two-hundred day moving average of $6.81. American Superconductor Co. has a fifty-two week low of $3.20 and a fifty-two week high of $17.37.
American Superconductor (NASDAQ:AMSC – Get Free Report) last posted its earnings results on Wednesday, August 9th. The technology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.08. American Superconductor had a negative return on equity of 28.12% and a negative net margin of 20.30%. The firm had revenue of $30.25 million during the quarter, compared to analyst estimates of $27.75 million. As a group, research analysts expect that American Superconductor Co. will post -0.5 EPS for the current fiscal year.
American Superconductor Profile
American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind. 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; and engineering planning services.
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