American Superconductor Corporation (NASDAQ:AMSC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of American Superconductor Corporation (NASDAQ:AMSC) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,030 shares of the technology company’s stock after selling 36,345 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.86% of American Superconductor worth $6,275,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of American Superconductor by 8.7% in the 4th quarter. Bank of New York Mellon Corp now owns 108,609 shares of the technology company’s stock valued at $2,675,000 after buying an additional 8,731 shares during the period. Jones Financial Companies Lllp increased 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 buying an additional 2,708 shares during the period. SBI Securities Co. Ltd. purchased a new stake in American Superconductor during the 4th quarter worth approximately $65,000. Charles Schwab Investment Management Inc. lifted its holdings in American Superconductor by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 317,869 shares of the technology company’s stock worth $7,829,000 after buying an additional 13,341 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in American Superconductor by 4.1% in the 4th quarter. Arizona State Retirement System now owns 11,092 shares of the technology company’s stock valued at $273,000 after buying an additional 439 shares during the period. 52.28% of the stock is currently owned by institutional investors and hedge funds.

American Superconductor Stock Performance

Shares of American Superconductor stock opened at $39.46 on Friday. The business has a 50-day simple moving average of $28.19 and a 200-day simple moving average of $25.14. American Superconductor Corporation has a one year low of $13.98 and a one year high of $41.10. The company has a market cap of $1.56 billion, a PE ratio of 263.09 and a beta of 2.91.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. American Superconductor had a net margin of 2.71% and a return on equity of 8.89%. The company had revenue of $66.66 million during the quarter, compared to the consensus estimate of $60.27 million. The business’s quarterly revenue was up 58.6% compared to the same quarter last year. On average, sell-side analysts predict that American Superconductor Corporation will post 0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised American Superconductor from a “hold” rating to a “buy” rating in a research report on Sunday, June 29th.

Insiders Place Their Bets

In other news, CEO Daniel P. Mcgahn sold 122,655 shares of the company’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 completion of the transaction, the chief executive officer directly owned 1,304,486 shares of the company’s stock, valued at approximately $34,425,385.54. This represents a 8.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $26.40, for a total value of $1,320,000.00. Following the completion of the transaction, the chief financial officer owned 414,276 shares in the company, valued at approximately $10,936,886.40. The trade was a 10.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,088 shares of company stock valued at $4,952,531. Insiders own 4.80% of the company’s stock.

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.