Raymond James Financial Inc. Acquires New Position in American Superconductor Co. (NASDAQ:AMSC)

Raymond James Financial Inc. bought a new position in shares of American Superconductor Co. (NASDAQ:AMSC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 413,646 shares of the technology company's stock, valued at approximately $10,188,000. Raymond James Financial Inc. owned approximately 1.05% of American Superconductor at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMSC. Charles Schwab Investment Management Inc. grew its stake in shares of American Superconductor by 211.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company's stock worth $7,187,000 after purchasing an additional 206,655 shares during the last quarter. Centiva Capital LP acquired a new position in American Superconductor in the third quarter worth approximately $456,000. Main Management ETF Advisors LLC acquired a new position in American Superconductor in the third quarter worth approximately $806,000. Franklin Resources Inc. bought a new position in shares of American Superconductor in the third quarter valued at $781,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of American Superconductor during the 3rd quarter valued at $1,424,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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American Superconductor Stock Down 0.5 %

Shares of AMSC stock traded down $0.11 during trading hours on Tuesday, reaching $21.48. 478,912 shares of the stock traded hands, compared to its average volume of 1,065,463. The firm has a market capitalization of $847.60 million, a PE ratio of 306.90 and a beta of 2.45. American Superconductor Co. has a 1-year low of $11.36 and a 1-year high of $38.02. The business has a fifty day moving average price of $25.29 and a 200 day moving average price of $26.10.

American Superconductor (NASDAQ:AMSC - Get Free Report) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. Research analysts expect that American Superconductor Co. will post 0.41 earnings per share for the current fiscal year.

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.