Main Management ETF Advisors LLC Acquires New Holdings in American Superconductor Co. (NASDAQ:AMSC)

Main Management ETF Advisors LLC purchased a new position in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 34,144 shares of the technology company's stock, valued at approximately $806,000. Main Management ETF Advisors LLC owned approximately 0.09% of American Superconductor as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in American Superconductor in the 2nd quarter valued at $28,000. nVerses Capital LLC acquired a new stake in American Superconductor in the 2nd quarter valued at about $42,000. CWM LLC acquired a new stake in American Superconductor in the 3rd quarter valued at about $57,000. Quest Partners LLC acquired a new stake in shares of American Superconductor during the 3rd quarter worth about $88,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of American Superconductor in the second quarter worth approximately $96,000. Institutional investors and hedge funds own 52.28% of the company's stock.

American Superconductor Stock Down 10.6 %

AMSC stock traded down $3.69 during midday trading on Friday, hitting $31.20. 2,648,961 shares of the company traded hands, compared to its average volume of 1,570,154. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -623.88 and a beta of 2.21. The business has a 50 day simple moving average of $28.14 and a 200-day simple moving average of $24.58. American Superconductor Co. has a twelve month low of $9.37 and a twelve month high of $38.02.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Roth Mkm reissued a "buy" rating and set a $29.00 price target on shares of American Superconductor in a research report on Monday, September 30th. Craig Hallum reiterated a "buy" rating and issued a $33.00 target price on shares of American Superconductor in a report on Tuesday, September 10th.

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.