Summit Global Investments Makes New Investment in American Superconductor Co. (NASDAQ:AMSC)

Summit Global Investments bought a new position in American Superconductor Co. (NASDAQ:AMSC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,049 shares of the technology company's stock, valued at approximately $494,000. Summit Global Investments owned about 0.05% of American Superconductor as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMSC. Quest Partners LLC bought a new position in American Superconductor in the 3rd quarter worth about $88,000. Charles Schwab Investment Management Inc. lifted its stake in 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 acquiring an additional 206,655 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in American Superconductor in the 3rd quarter valued at approximately $1,207,000. FMR LLC lifted its stake in American Superconductor by 828.6% in the third quarter. FMR LLC now owns 14,690 shares of the technology company's stock valued at $347,000 after acquiring an additional 13,108 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in American Superconductor by 12.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 44,075 shares of the technology company's stock worth $1,040,000 after purchasing an additional 4,929 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company's stock.

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American Superconductor Trading Down 3.2 %

NASDAQ:AMSC traded down $0.62 during mid-day trading on Friday, hitting $18.78. 465,430 shares of the company's stock traded hands, compared to its average volume of 1,083,261. The firm has a 50 day moving average of $24.87 and a two-hundred day moving average of $26.03. The firm has a market capitalization of $741.06 million, a price-to-earnings ratio of 268.32 and a beta of 2.45. American Superconductor Co. has a 12 month low of $11.36 and a 12 month high of $38.02.

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

Analysts Set New Price Targets

Separately, Oppenheimer upped 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.

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.