434,145 Shares in American Superconductor Co. (NASDAQ:AMSC) Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC bought a new position in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 434,145 shares of the technology company's stock, valued at approximately $10,246,000. Allspring Global Investments Holdings LLC owned about 1.17% of American Superconductor as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its stake in American Superconductor by 21.1% in the first quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company's stock valued at $34,134,000 after acquiring an additional 440,271 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in American Superconductor in the first quarter valued at approximately $1,419,000. ClariVest Asset Management LLC acquired a new position in shares of American Superconductor in the 1st quarter valued at $1,179,000. Vanguard Group Inc. grew its position in American Superconductor by 30.5% during the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company's stock worth $22,953,000 after purchasing an additional 396,814 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of American Superconductor by 92.5% in the first quarter. Acadian Asset Management LLC now owns 48,218 shares of the technology company's stock valued at $649,000 after buying an additional 23,174 shares during the last quarter. 52.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Craig Hallum reaffirmed a "buy" rating and set a $33.00 price objective on shares of American Superconductor in a research note on Tuesday, September 10th. Roth Mkm reissued a "buy" rating and issued a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Trading Up 1.3 %

Shares of AMSC traded up $0.29 during mid-day trading on Friday, hitting $22.93. The company's stock had a trading volume of 538,284 shares, compared to its average volume of 986,848. The firm has a 50-day simple moving average of $21.98 and a 200 day simple moving average of $20.66. American Superconductor Co. has a 1-year low of $6.05 and a 1-year high of $32.70. The firm has a market capitalization of $848.36 million, a P/E ratio of -58.79 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.09. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. The firm had revenue of $40.29 million during the quarter, compared to analysts' expectations of $39.55 million. As a group, sell-side analysts predict that American Superconductor Co. will post 0.17 EPS for the current fiscal 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.