Essex Investment Management Co. LLC Sells 34,630 Shares of American Superconductor Co. (NASDAQ:AMSC)

Essex Investment Management Co. LLC reduced its holdings in American Superconductor Co. (NASDAQ:AMSC) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 429,876 shares of the technology company’s stock after selling 34,630 shares during the quarter. American Superconductor comprises 1.9% of Essex Investment Management Co. LLC’s portfolio, making the stock its 2nd biggest holding. Essex Investment Management Co. LLC owned approximately 1.09% of American Superconductor worth $10,588,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMSC. Los Angeles Capital Management LLC acquired a new stake in American Superconductor during the third quarter worth about $485,000. Lisanti Capital Growth LLC grew its position in American Superconductor by 110.2% during the third quarter. Lisanti Capital Growth LLC now owns 131,340 shares of the technology company’s stock worth $3,100,000 after buying an additional 68,845 shares in the last quarter. Quest Partners LLC acquired a new stake in American Superconductor during the third quarter worth about $88,000. Charles Schwab Investment Management Inc. grew its position in American Superconductor by 211.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock worth $7,187,000 after buying an additional 206,655 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in American Superconductor during the third quarter worth about $1,207,000. 52.28% of the stock is owned by institutional investors and hedge funds.

American Superconductor Trading Up 0.4 %

NASDAQ AMSC opened at $19.25 on Friday. The stock’s 50 day moving average is $26.88 and its two-hundred day moving average is $26.09. The company has a market capitalization of $759.61 million, a price-to-earnings ratio of 275.04 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.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, beating 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%. On average, analysts predict that American Superconductor Co. will post 0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Oppenheimer lifted their price objective on American Superconductor from $33.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, February 7th.

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.