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

Allspring Global Investments Holdings LLC decreased its position in American Superconductor Co. (NASDAQ:AMSC) by 13.1% in the 4th quarter, Holdings Channel reports. The fund owned 377,375 shares of the technology company’s stock after selling 56,770 shares during the period. Allspring Global Investments Holdings LLC’s holdings in American Superconductor were worth $9,295,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. CWM LLC acquired a new stake in shares of American Superconductor during the third quarter worth approximately $57,000. Spire Wealth Management grew its position in shares of American Superconductor by 17.7% during the fourth quarter. Spire Wealth Management now owns 17,517 shares of the technology company’s stock worth $431,000 after buying an additional 2,628 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of American Superconductor during the third quarter worth approximately $88,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of American Superconductor by 12.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 44,075 shares of the technology company’s stock worth $1,040,000 after buying an additional 4,929 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of American Superconductor by 129.1% during the third quarter. MetLife Investment Management LLC now owns 19,786 shares of the technology company’s stock worth $467,000 after buying an additional 11,149 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Oppenheimer raised their price target on shares of American Superconductor from $33.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th.

American Superconductor Price Performance

Shares of AMSC opened at $32.43 on Wednesday. The business’s fifty day moving average price is $27.48 and its 200 day moving average price is $25.82. American Superconductor Co. has a 12-month low of $11.36 and a 12-month high of $38.02. The stock has a market capitalization of $1.28 billion, a PE ratio of 463.37 and a beta of 2.26.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 earnings per share (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%. As a group, research analysts anticipate that American Superconductor Co. will post 0.37 earnings per share for the current fiscal year.

American Superconductor Company 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.