California State Teachers Retirement System Raises Position in American Superconductor Co. (NASDAQ:AMSC)

California State Teachers Retirement System increased its holdings in American Superconductor Co. (NASDAQ:AMSC) by 2.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,559 shares of the technology company’s stock after buying an additional 709 shares during the period. California State Teachers Retirement System owned 0.09% of American Superconductor worth $876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rhumbline Advisers increased its stake in American Superconductor by 1.2% in the fourth quarter. Rhumbline Advisers now owns 51,119 shares of the technology company’s stock valued at $1,259,000 after acquiring an additional 606 shares during the last quarter. Quantum Private Wealth LLC bought a new position in American Superconductor in the fourth quarter valued at $281,000. Nkcfo LLC bought a new position in American Superconductor in the fourth quarter valued at $1,158,000. Truist Financial Corp bought a new position in American Superconductor in the fourth quarter valued at $251,000. Finally, Atria Wealth Solutions Inc. increased its stake in American Superconductor by 4.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 12,475 shares of the technology company’s stock valued at $307,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 52.28% of the company’s stock.

American Superconductor Stock Up 4.1%

AMSC opened at $34.45 on Wednesday. The stock has a market cap of $1.36 billion, a PE ratio of 492.21 and a beta of 2.87. American Superconductor Co. has a 52 week low of $13.98 and a 52 week high of $38.02. The business’s fifty day simple moving average is $22.59 and its 200 day simple moving average is $24.76.

American Superconductor (NASDAQ:AMSC) last released its earnings results on Wednesday, May 21st. The technology company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. The business had revenue of $66.66 million for the quarter, compared to analysts’ expectations of $60.27 million. The business’s quarterly revenue was up 58.6% on a year-over-year basis. As a group, equities analysts anticipate that American Superconductor Co. will post 0.41 earnings per share for the current year.

Insider Activity

In other news, CEO Daniel P. Mcgahn sold 122,655 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $26.39, for a total transaction of $3,236,865.45. Following the transaction, the chief executive officer now directly owns 1,304,486 shares of the company’s stock, valued at approximately $34,425,385.54. This trade represents a 8.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $31.83, for a total value of $151,001.52. Following the transaction, the chief financial officer now directly owns 409,532 shares in the company, valued at $13,035,403.56. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,088 shares of company stock valued at $4,952,531. 4.40% of the stock is currently owned by insiders.

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.