nVerses Capital LLC Acquires New Position in American Superconductor Co. (NASDAQ:AMSC)

nVerses Capital LLC bought a new position in American Superconductor Co. (NASDAQ:AMSC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,800 shares of the technology company’s stock, valued at approximately $42,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMSC. AWM Investment Company Inc. lifted its holdings in shares of American Superconductor by 19.4% in the 1st quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock worth $35,954,000 after purchasing an additional 433,018 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of American Superconductor by 21.1% during the first quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after acquiring an additional 440,271 shares during the period. Vanguard Group Inc. grew its position in shares of American Superconductor by 30.5% during the first quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock worth $22,953,000 after acquiring an additional 396,814 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of American Superconductor in the 1st quarter worth about $21,870,000. Finally, Assenagon Asset Management S.A. lifted its position in American Superconductor by 643.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock valued at $24,725,000 after purchasing an additional 914,872 shares during the last quarter. 52.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMSC has been the topic of several analyst reports. Roth Mkm raised their price target on shares of American Superconductor from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Oppenheimer raised their target price on American Superconductor from $16.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, May 31st.

Insider Activity

In related news, CFO John W. Kosiba, Jr. sold 32,000 shares of American Superconductor stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $21.68, for a total transaction of $693,760.00. Following the transaction, the chief financial officer now directly owns 316,136 shares of the company’s stock, valued at $6,853,828.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO John W. Kosiba, Jr. sold 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $21.68, for a total transaction of $693,760.00. Following the completion of the sale, the chief financial officer now directly owns 316,136 shares in the company, valued at $6,853,828.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel P. Mcgahn sold 37,165 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total value of $806,108.85. Following the completion of the transaction, the chief executive officer now directly owns 1,019,956 shares in the company, valued at approximately $22,122,845.64. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.

American Superconductor Stock Up 0.3 %

Shares of AMSC opened at $18.78 on Friday. The firm has a market capitalization of $694.82 million, a PE ratio of -48.15 and a beta of 2.17. The firm has a 50-day moving average price of $23.41 and a 200 day moving average price of $18.31. American Superconductor Co. has a 52-week low of $5.78 and a 52-week high of $32.70.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.09. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. The business had revenue of $40.29 million during the quarter, compared to analysts’ expectations of $39.55 million. On average, equities analysts expect that American Superconductor Co. will post 0.17 EPS for the current year.

About American Superconductor

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.