Franklin Resources Inc. Takes $781,000 Position in American Superconductor Co. (NASDAQ:AMSC)

Franklin Resources Inc. purchased a new stake in American Superconductor Co. (NASDAQ:AMSC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,815 shares of the technology company’s stock, valued at approximately $781,000. Franklin Resources Inc. owned 0.08% of American Superconductor as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of American Superconductor during the third quarter worth about $10,246,000. Charles Schwab Investment Management Inc. grew its holdings in American Superconductor by 211.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock worth $7,187,000 after purchasing an additional 206,655 shares during the period. Rice Hall James & Associates LLC bought a new stake in American Superconductor in the 2nd quarter valued at about $3,468,000. State Street Corp grew its stake in American Superconductor by 18.3% in the third quarter. State Street Corp now owns 906,250 shares of the technology company’s stock valued at $21,388,000 after acquiring an additional 140,106 shares during the period. Finally, Hood River Capital Management LLC grew its position in American Superconductor by 7.2% in the 2nd quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company’s stock valued at $40,582,000 after purchasing an additional 116,207 shares during the period. Institutional investors own 52.28% of the company’s stock.

American Superconductor Stock Performance

NASDAQ AMSC opened at $25.06 on Monday. The company has a market capitalization of $988.69 million, a PE ratio of -501.10 and a beta of 2.21. American Superconductor Co. has a 52-week low of $9.37 and a 52-week high of $38.02. The company has a 50-day simple moving average of $28.90 and a 200 day simple moving average of $25.28.

Wall Street Analyst Weigh In

AMSC has been the topic of a number of recent research reports. Roth Mkm reaffirmed a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th. Craig Hallum reiterated a “buy” rating and issued a $33.00 target price on shares of American Superconductor in a research note on Tuesday, September 10th.

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.