New York State Common Retirement Fund Grows Position in American Superconductor Co. (NASDAQ:AMSC)

New York State Common Retirement Fund grew its position in shares of American Superconductor Co. (NASDAQ:AMSC) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,536 shares of the technology company’s stock after purchasing an additional 2,436 shares during the quarter. New York State Common Retirement Fund owned approximately 0.17% of American Superconductor worth $1,639,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMSC. Quest Partners LLC purchased a new position in American Superconductor in the third quarter valued at $88,000. Truist Financial Corp acquired a new stake in shares of American Superconductor during the 4th quarter valued at about $251,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of American Superconductor in the 3rd quarter valued at about $277,000. Heck Capital Advisors LLC acquired a new position in American Superconductor in the 4th quarter worth about $279,000. Finally, PFG Investments LLC purchased a new position in American Superconductor during the fourth quarter worth approximately $280,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

American Superconductor Stock Up 2.7 %

AMSC stock opened at $22.71 on Monday. American Superconductor Co. has a 52 week low of $11.36 and a 52 week high of $38.02. The firm has a 50-day simple moving average of $27.46 and a 200-day simple moving average of $26.18. The stock has a market capitalization of $896.14 million, a P/E ratio of 324.47 and a beta of 2.26.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings data 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 return on equity of 8.95% and a net margin of 1.64%. On average, analysts expect that American Superconductor Co. will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

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

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.