Connor Clark & Lunn Investment Management Ltd. Sells 96,652 Shares of American Superconductor Co. (NASDAQ:AMSC)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of American Superconductor Co. (NASDAQ:AMSC) by 18.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 426,261 shares of the technology company’s stock after selling 96,652 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in American Superconductor were worth $10,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quest Partners LLC acquired a new position in American Superconductor during the third quarter worth $88,000. Lisanti Capital Growth LLC lifted its position in American Superconductor by 110.2% during the 3rd 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. Los Angeles Capital Management LLC acquired a new position in shares of American Superconductor during the 3rd quarter worth about $485,000. Precision Wealth Strategies LLC bought a new position in shares of American Superconductor in the 3rd quarter valued at about $300,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of American Superconductor in the third quarter valued at about $10,246,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMSC has been the subject of several recent research reports. Craig Hallum reissued a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research report 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 Price Performance

American Superconductor stock opened at $34.06 on Friday. The company’s 50-day moving average is $25.66 and its 200-day moving average is $22.94. The firm has a market capitalization of $1.34 billion, a PE ratio of -681.07 and a beta of 2.14. American Superconductor Co. has a fifty-two week low of $8.56 and a fifty-two week high of $38.02.

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.