Connor Clark & Lunn Investment Management Ltd. Sells 149,011 Shares of American Superconductor Co. (NASDAQ:AMSC)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in American Superconductor Co. (NASDAQ:AMSC - Free Report) by 35.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 277,250 shares of the technology company's stock after selling 149,011 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.70% of American Superconductor worth $6,829,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of American Superconductor in the fourth quarter worth $65,000. Jones Financial Companies Lllp grew its stake in shares of American Superconductor by 1,083.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company's stock worth $73,000 after acquiring an additional 2,708 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of American Superconductor by 8,670.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company's stock worth $73,000 after acquiring an additional 2,948 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of American Superconductor in the third quarter worth $88,000. Finally, Truist Financial Corp purchased a new stake in shares of American Superconductor in the fourth quarter worth $251,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

American Superconductor Price Performance

Shares of American Superconductor stock traded up $1.01 during trading on Wednesday, hitting $20.05. 539,511 shares of the company's stock traded hands, compared to its average volume of 1,059,188. American Superconductor Co. has a 1 year low of $11.36 and a 1 year high of $38.02. The stock has a market capitalization of $791.17 million, a P/E ratio of 286.47 and a beta of 2.45. The business has a 50-day simple moving average of $25.81 and a 200-day simple moving average of $26.06.

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American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 EPS for the quarter, beating 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, equities analysts predict that American Superconductor Co. will post 0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.