NewEdge Advisors LLC Increases Stock Position in American Superconductor Co. (NASDAQ:AMSC)

NewEdge Advisors LLC grew its position in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) by 732.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,874 shares of the technology company's stock after purchasing an additional 23,645 shares during the quarter. NewEdge Advisors LLC owned approximately 0.07% of American Superconductor worth $662,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in American Superconductor by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 856,455 shares of the technology company's stock worth $21,099,000 after buying an additional 9,043 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of American Superconductor in the fourth quarter valued at approximately $11,360,000. Raymond James Financial Inc. acquired a new position in shares of American Superconductor in the 4th quarter valued at $10,188,000. Legal & General Group Plc increased its holdings in shares of American Superconductor by 1.8% in the 4th quarter. Legal & General Group Plc now owns 347,549 shares of the technology company's stock valued at $8,560,000 after acquiring an additional 6,192 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in American Superconductor by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 317,869 shares of the technology company's stock valued at $7,829,000 after purchasing an additional 13,341 shares during the last quarter. Institutional investors and hedge funds own 52.28% of the company's stock.

American Superconductor Trading Up 0.8 %

American Superconductor stock opened at $20.29 on Friday. The stock has a 50 day moving average of $19.78 and a two-hundred day moving average of $25.34. American Superconductor Co. has a twelve month low of $12.14 and a twelve month high of $38.02. The stock has a market capitalization of $800.64 million, a price-to-earnings ratio of 289.90 and a beta of 2.58.

American Superconductor (NASDAQ:AMSC - Get Free Report) last issued its quarterly earnings results 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%. Equities analysts predict that American Superconductor Co. will post 0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer raised their price objective on shares of American Superconductor from $33.00 to $39.00 and gave the stock 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.

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