US Bancorp DE Makes New $31,000 Investment in American Superconductor Co. (NASDAQ:AMSC)

US Bancorp DE acquired a new position in American Superconductor Co. (NASDAQ:AMSC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,791 shares of the technology company’s stock, valued at approximately $31,000.

A number of other large investors have also recently added to or reduced their stakes in AMSC. Rafferty Asset Management LLC increased its stake in American Superconductor by 592.7% in the 1st quarter. Rafferty Asset Management LLC now owns 222,861 shares of the technology company’s stock worth $4,225,000 after acquiring an additional 190,688 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of American Superconductor by 8.4% in the 1st quarter. BlackRock Inc. now owns 2,020,597 shares of the technology company’s stock worth $38,310,000 after purchasing an additional 156,566 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of American Superconductor by 10.1% in the 2nd quarter. Baillie Gifford & Co. now owns 1,279,400 shares of the technology company’s stock worth $22,249,000 after purchasing an additional 117,700 shares during the period. Ergoteles LLC purchased a new position in shares of American Superconductor in the 1st quarter worth approximately $2,147,000. Finally, Baird Financial Group Inc. boosted its holdings in shares of American Superconductor by 404.2% in the 1st quarter. Baird Financial Group Inc. now owns 128,581 shares of the technology company’s stock worth $2,438,000 after purchasing an additional 103,081 shares during the period. 56.43% of the stock is currently owned by institutional investors and hedge funds.

In other American Superconductor news, CFO John W. Kosiba, Jr. sold 6,409 shares of the company’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $17.66, for a total value of $113,182.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel P. Mcgahn sold 14,664 shares of the company’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $17.66, for a total value of $258,966.24. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Separately, Zacks Investment Research upgraded American Superconductor from a “sell” rating to a “hold” rating in a report on Wednesday, September 15th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, American Superconductor currently has a consensus rating of “Buy” and a consensus price target of $20.00.

AMSC opened at $13.31 on Wednesday. The business has a fifty day moving average of $13.41 and a 200 day moving average of $15.94. American Superconductor Co. has a 52-week low of $11.25 and a 52-week high of $31.78. The stock has a market cap of $377.05 million, a P/E ratio of -13.72 and a beta of 1.09.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings data on Tuesday, August 3rd. The technology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.06. American Superconductor had a negative return on equity of 17.25% and a negative net margin of 27.00%. The company had revenue of $25.42 million during the quarter, compared to analysts’ expectations of $24.00 million. Sell-side analysts anticipate that American Superconductor Co. will post -0.71 EPS for the current fiscal year.

American Superconductor Profile

American Superconductor Corp. engages in provision of megawatt-scale power solutions, which improve the performance of the power grid and lower the cost of wind power. It operates through Grid and Wind segments. The Grid segment enables electric utilities and renewable energy project developers to connect, transmit, and distribute power with efficiency, reliability, security, and affordability.

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Institutional Ownership by Quarter for American Superconductor (NASDAQ:AMSC)

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