American Superconductor Co. (NASDAQ:AMSC) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its holdings in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) by 52.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,679 shares of the technology company's stock after selling 24,961 shares during the period. BNP Paribas Financial Markets owned about 0.06% of American Superconductor worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hood River Capital Management LLC raised its position in shares of American Superconductor by 7.2% in the second quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company's stock worth $40,582,000 after acquiring an additional 116,207 shares during the period. Assenagon Asset Management S.A. raised its position in shares of American Superconductor by 643.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company's stock worth $24,725,000 after purchasing an additional 914,872 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in American Superconductor during the 3rd quarter valued at about $10,246,000. Charles Schwab Investment Management Inc. grew its stake in American Superconductor by 211.1% during 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 acquiring an additional 206,655 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in American Superconductor by 65.6% during the 2nd quarter. Renaissance Technologies LLC now owns 187,989 shares of the technology company's stock valued at $4,397,000 after acquiring an additional 74,500 shares in the last quarter. 52.28% of the stock is currently owned by institutional investors and hedge funds.

American Superconductor Stock Down 2.0 %

Shares of American Superconductor stock traded down $0.54 during mid-day trading on Friday, hitting $25.83. The stock had a trading volume of 961,065 shares, compared to its average volume of 1,075,753. The firm has a 50-day moving average of $28.63 and a two-hundred day moving average of $24.86. American Superconductor Co. has a 12-month low of $9.37 and a 12-month high of $38.02. The firm has a market cap of $1.02 billion, a P/E ratio of -516.60 and a beta of 2.21.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMSC. Roth Mkm reaffirmed a "buy" rating and set a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th. Craig Hallum reissued a "buy" rating and issued a $33.00 price target on shares of American Superconductor in a research note on Tuesday, September 10th.

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.