Summit Global Investments Purchases Shares of 20,049 American Superconductor Co. (NASDAQ:AMSC)

Summit Global Investments acquired a new position in American Superconductor Co. (NASDAQ:AMSC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,049 shares of the technology company’s stock, valued at approximately $494,000. Summit Global Investments owned approximately 0.05% of American Superconductor at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake in American Superconductor by 18.3% in the 3rd quarter. State Street Corp now owns 906,250 shares of the technology company’s stock worth $21,388,000 after buying an additional 140,106 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of American Superconductor by 4.5% in the third quarter. Geode Capital Management LLC now owns 847,412 shares of the technology company’s stock worth $20,003,000 after acquiring an additional 36,511 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of American Superconductor during the fourth quarter worth about $10,188,000. Charles Schwab Investment Management Inc. raised its stake in American Superconductor by 4.4% during 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 period. Finally, Bank of New York Mellon Corp lifted its holdings in American Superconductor by 8.7% in the 4th quarter. Bank of New York Mellon Corp now owns 108,609 shares of the technology company’s stock worth $2,675,000 after purchasing an additional 8,731 shares in the last quarter. 52.28% of the stock is currently owned by institutional investors.

American Superconductor Stock Up 8.8 %

Shares of American Superconductor stock opened at $21.59 on Tuesday. American Superconductor Co. has a twelve month low of $11.36 and a twelve month high of $38.02. The business has a 50-day moving average price of $25.29 and a 200-day moving average price of $26.10. The firm has a market cap of $851.94 million, a price-to-earnings ratio of 308.47 and a beta of 2.45.

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

Analyst Upgrades and Downgrades

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

American Superconductor Company 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.