American Superconductor Corporation $AMSC Stock Acquired by Verity Asset Management Inc.

Verity Asset Management Inc. raised its holdings in shares of American Superconductor Corporation (NASDAQ:AMSC) by 135.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 38,285 shares of the technology company’s stock after acquiring an additional 22,039 shares during the quarter. Verity Asset Management Inc.’s holdings in American Superconductor were worth $1,114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC raised its stake in shares of American Superconductor by 624.3% in the third quarter. Fortitude Family Office LLC now owns 985 shares of the technology company’s stock worth $29,000 after purchasing an additional 849 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of American Superconductor by 45.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,563 shares of the technology company’s stock valued at $45,000 after purchasing an additional 492 shares in the last quarter. Nykredit A S bought a new position in shares of American Superconductor during the second quarter valued at $46,000. Sterling Capital Management LLC lifted its holdings in shares of American Superconductor by 850.9% during the third quarter. Sterling Capital Management LLC now owns 1,569 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,404 shares in the last quarter. Finally, Optiver Holding B.V. purchased a new stake in shares of American Superconductor during the first quarter valued at $64,000. Institutional investors own 52.28% of the company’s stock.

American Superconductor Stock Down 5.1%

NASDAQ AMSC opened at $26.26 on Thursday. The company has a 50-day moving average price of $28.57 and a 200-day moving average price of $35.08. American Superconductor Corporation has a 52 week low of $24.08 and a 52 week high of $60.65. The firm has a market capitalization of $1.27 billion, a P/E ratio of 8.67 and a beta of 3.32.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings data on Wednesday, November 4th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $94.04 million during the quarter, compared to analysts’ expectations of $87.32 million. American Superconductor had a return on equity of 27.41% and a net margin of 42.56%. The business’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. As a group, equities research analysts anticipate that American Superconductor Corporation will post 0.37 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on AMSC. Wall Street Zen upgraded American Superconductor from a “sell” rating to a “hold” rating in a report on Sunday, August 30th. Roth Capital restated a “buy” rating and set a $55.00 target price (down from $58.00) on shares of American Superconductor in a research note on Monday, August 10th. Freedom Capital raised shares of American Superconductor to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of American Superconductor from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

American Superconductor Company Profile

American Superconductor Corporation (NASDAQ:AMSC) develops power-resiliency solutions that help electric utilities, industrial companies, renewable-energy developers and defense organizations improve the reliability, efficiency and performance of electrical systems. The company combines power electronics, software and engineering services to address challenges involving grid stability, power quality and renewable-energy integration.

AMSC’s Gridtec business offers solutions such as voltage-regulation and power-quality systems, grid interconnection technologies, and resilient-grid products designed to support electric transmission and distribution networks.