Franklin Resources Inc. purchased a new stake in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 32,815 shares of the technology company's stock, valued at approximately $781,000. Franklin Resources Inc. owned approximately 0.08% of American Superconductor at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in AMSC. Allspring Global Investments Holdings LLC acquired a new stake in shares of American Superconductor during the third quarter worth about $10,246,000. Charles Schwab Investment Management Inc. lifted 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 during the period. Rice Hall James & Associates LLC purchased a new stake in shares of American Superconductor in the 2nd quarter valued at $3,468,000. State Street Corp increased its stake in shares of American Superconductor by 18.3% in the third 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. Finally, Hood River Capital Management LLC raised its holdings in shares of American Superconductor by 7.2% during 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 purchasing an additional 116,207 shares during the last quarter. Hedge funds and other institutional investors own 52.28% of the company's stock.
Analyst Ratings Changes
AMSC has been the topic of several recent research reports. Craig Hallum reaffirmed a "buy" rating and issued a $33.00 price target on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm restated a "buy" rating and issued a $29.00 target price on shares of American Superconductor in a research note on Monday, September 30th.
Check Out Our Latest Stock Report on AMSC
American Superconductor Stock Performance
Shares of AMSC traded up $0.14 during trading hours on Monday, hitting $25.20. The stock had a trading volume of 1,237,165 shares, compared to its average volume of 1,080,428. The firm has a 50-day moving average price of $28.93 and a 200 day moving average price of $25.27. American Superconductor Co. has a fifty-two week low of $9.37 and a fifty-two week high of $38.02. The firm has a market capitalization of $994.22 million, a price-to-earnings ratio of -503.90 and a beta of 2.21.
American Superconductor Profile
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Free Report)
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.
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