Range Financial Group LLC Purchases New Stake in American Superconductor Co. (NASDAQ:AMSC)

Range Financial Group LLC acquired a new position in shares of American Superconductor Co. (NASDAQ:AMSC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 42,018 shares of the technology company’s stock, valued at approximately $1,035,000. Range Financial Group LLC owned approximately 0.11% of American Superconductor at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AMSC. Amalgamated Bank acquired a new position in American Superconductor in the second quarter worth about $28,000. CWM LLC acquired a new position in shares of American Superconductor in the 3rd quarter worth approximately $57,000. Quest Partners LLC bought a new stake in shares of American Superconductor in the 3rd quarter valued at approximately $88,000. Canada Pension Plan Investment Board bought a new stake in shares of American Superconductor in the 2nd quarter valued at approximately $96,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of American Superconductor during the 3rd quarter valued at approximately $277,000. Institutional investors own 52.28% of the company’s stock.

American Superconductor Trading Down 2.0 %

AMSC traded down $0.59 during trading on Tuesday, reaching $28.55. 1,002,014 shares of the company were exchanged, compared to its average volume of 1,158,025. The stock has a market cap of $1.13 billion, a P/E ratio of -570.89 and a beta of 2.28. American Superconductor Co. has a 52 week low of $9.37 and a 52 week high of $38.02. The firm has a 50 day moving average of $29.27 and a 200 day moving average of $25.32.

Analyst Upgrades and Downgrades

AMSC has been the subject of several recent research reports. Craig Hallum reiterated a “buy” rating and set a $33.00 target price on shares of American Superconductor in a research note on Tuesday, September 10th. Roth Mkm reiterated a “buy” rating and set a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th.

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.