Allspring Global Investments Holdings LLC Cuts Stock Holdings in American Superconductor Co. (NASDAQ:AMSC)

Allspring Global Investments Holdings LLC lowered its position in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 377,375 shares of the technology company's stock after selling 56,770 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.96% of American Superconductor worth $9,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its position in American Superconductor by 18.3% during the 3rd quarter. State Street Corp now owns 906,250 shares of the technology company's stock worth $21,388,000 after acquiring an additional 140,106 shares during the period. Geode Capital Management LLC lifted its holdings in shares of American Superconductor by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 847,412 shares of the technology company's stock valued at $20,003,000 after buying an additional 36,511 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of American Superconductor by 211.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company's stock valued at $7,187,000 after buying an additional 206,655 shares during the period. Lisanti Capital Growth LLC lifted its holdings in shares of American Superconductor by 110.2% in the 3rd quarter. Lisanti Capital Growth LLC now owns 131,340 shares of the technology company's stock valued at $3,100,000 after buying an additional 68,845 shares during the period. Finally, KBC Group NV acquired a new position in shares of American Superconductor in the 4th quarter valued at about $2,492,000. Institutional investors and hedge funds own 52.28% of the company's stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer boosted their price objective on American Superconductor from $33.00 to $39.00 and gave the company an "outperform" rating in a report on Friday, February 7th.

American Superconductor Stock Down 10.9 %

Shares of AMSC stock traded down $3.13 on Friday, hitting $25.70. The company had a trading volume of 1,489,428 shares, compared to its average volume of 1,208,867. The firm has a market cap of $1.01 billion, a P/E ratio of 367.20 and a beta of 2.26. The company has a 50-day moving average price of $27.69 and a 200-day moving average price of $25.96. American Superconductor Co. has a twelve month low of $11.36 and a twelve month high of $38.02.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly 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 return on equity of 8.95% and a net margin of 1.64%. Equities research analysts expect that American Superconductor Co. will post 0.41 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 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.