Arrowstreet Capital Limited Partnership Buys Shares of 296,792 American Superconductor Co. (NASDAQ:AMSC)

Arrowstreet Capital Limited Partnership acquired a new position in American Superconductor Co. (NASDAQ:AMSC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 296,792 shares of the technology company's stock, valued at approximately $7,310,000. Arrowstreet Capital Limited Partnership owned approximately 0.75% of American Superconductor at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AMSC. SBI Securities Co. Ltd. bought a new stake in shares of American Superconductor during the fourth quarter valued at approximately $65,000. Jones Financial Companies Lllp increased its position in shares of American Superconductor by 1,083.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company's stock valued at $73,000 after acquiring an additional 2,708 shares during the last quarter. PNC Financial Services Group Inc. raised its stake 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 worth $73,000 after purchasing an additional 2,948 shares during the period. KLP Kapitalforvaltning AS bought a new stake in American Superconductor in the fourth quarter worth about $170,000. Finally, Truist Financial Corp bought a new stake in shares of American Superconductor in the 4th quarter worth approximately $251,000. 52.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Oppenheimer upped their price target on shares of American Superconductor from $33.00 to $39.00 and gave the company an "outperform" rating in a research note on Friday, February 7th.

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American Superconductor Stock Up 3.1 %

Shares of AMSC traded up $0.54 during trading hours on Friday, hitting $18.00. The company had a trading volume of 481,769 shares, compared to its average volume of 1,097,234. The firm has a market cap of $710.28 million, a P/E ratio of 257.18 and a beta of 2.58. American Superconductor Co. has a 52-week low of $11.36 and a 52-week high of $38.02. The stock's 50 day moving average price is $22.33 and its 200 day moving average price is $25.62.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 earnings per share 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%. On average, research analysts expect that American Superconductor Co. will post 0.41 EPS 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.