Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Lowers Stock Position in American Superconductor Co. (NASDAQ:AMSC)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its holdings in American Superconductor Co. (NASDAQ:AMSCGet Rating) by 19.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 67,326 shares of the technology company’s stock after selling 16,372 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in American Superconductor were worth $295,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AMSC. Amalgamated Bank purchased a new stake in American Superconductor during the first quarter valued at approximately $25,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in American Superconductor during the second quarter valued at approximately $48,000. XTX Topco Ltd purchased a new stake in American Superconductor during the first quarter valued at approximately $102,000. AQR Capital Management LLC purchased a new stake in American Superconductor during the second quarter valued at approximately $72,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in American Superconductor during the second quarter valued at approximately $83,000. Hedge funds and other institutional investors own 47.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. EF Hutton Acquisition Co. I decreased their price target on shares of American Superconductor from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. StockNews.com raised shares of American Superconductor from a “sell” rating to a “hold” rating in a report on Wednesday, November 30th.

American Superconductor Price Performance

NASDAQ:AMSC opened at $5.33 on Monday. The firm has a market capitalization of $155.85 million, a P/E ratio of -5.28 and a beta of 1.35. American Superconductor Co. has a 1-year low of $3.20 and a 1-year high of $10.14. The company’s fifty day moving average price is $3.93 and its 200-day moving average price is $4.52.

American Superconductor (NASDAQ:AMSCGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The technology company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). The business had revenue of $27.68 million during the quarter, compared to analyst estimates of $24.80 million. American Superconductor had a negative return on equity of 25.67% and a negative net margin of 26.50%. Equities analysts anticipate that American Superconductor Co. will post -1.03 EPS for the current fiscal year.

Insider Transactions at American Superconductor

In other news, CEO Daniel P. Mcgahn purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 16th. The shares were bought at an average price of $3.49 per share, for a total transaction of $87,250.00. Following the completion of the transaction, the chief executive officer now owns 943,223 shares in the company, valued at $3,291,848.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.50% of the company’s stock.

About American Superconductor

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for American Superconductor (NASDAQ:AMSC)

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