First Trust Advisors LP Buys 43,808 Shares of American Superconductor Co. (NASDAQ:AMSC)

First Trust Advisors LP raised its stake in American Superconductor Co. (NASDAQ:AMSC) by 15.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 335,053 shares of the technology company’s stock after buying an additional 43,808 shares during the period. First Trust Advisors LP’s holdings in American Superconductor were worth $8,252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in American Superconductor in the fourth quarter worth approximately $65,000. Jones Financial Companies Lllp boosted its stake in shares of American Superconductor by 1,083.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company’s stock valued at $73,000 after purchasing an additional 2,708 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of American Superconductor by 8,670.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company’s stock valued at $73,000 after purchasing an additional 2,948 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in American Superconductor in the 4th quarter worth $170,000. Finally, Tradewinds LLC. purchased a new position in American Superconductor in the 4th quarter worth $176,000. Hedge funds and other institutional investors own 52.28% of the company’s stock.

American Superconductor Stock Performance

Shares of American Superconductor stock opened at $20.22 on Wednesday. The company’s 50 day moving average price is $19.38 and its 200-day moving average price is $25.30. American Superconductor Co. has a 52-week low of $12.14 and a 52-week high of $38.02. The stock has a market capitalization of $797.88 million, a price-to-earnings ratio of 288.90 and a beta of 2.58.

American Superconductor (NASDAQ:AMSC) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. As a group, equities research analysts forecast that American Superconductor Co. will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer raised their price objective on American Superconductor from $33.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, February 7th.

About American Superconductor

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.