Rice Hall James & Associates LLC Cuts Stake in American Superconductor Co. (NASDAQ:AMSC)

Rice Hall James & Associates LLC lowered its position in shares of American Superconductor Co. (NASDAQ:AMSC) by 43.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,130 shares of the technology company’s stock after selling 64,062 shares during the period. Rice Hall James & Associates LLC owned about 0.21% of American Superconductor worth $2,047,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC bought a new stake in American Superconductor during the third quarter valued at about $57,000. Quest Partners LLC bought a new stake in American Superconductor during the third quarter valued at about $88,000. Truist Financial Corp bought a new stake in American Superconductor during the fourth quarter valued at about $251,000. Heck Capital Advisors LLC bought a new stake in American Superconductor during the fourth quarter valued at about $279,000. Finally, PFG Investments LLC bought a new stake in American Superconductor during the fourth quarter valued at about $280,000. Institutional investors own 52.28% of the company’s stock.

American Superconductor Stock Performance

Shares of NASDAQ AMSC opened at $32.43 on Wednesday. The company has a market cap of $1.28 billion, a PE ratio of 463.37 and a beta of 2.26. The business has a 50-day simple moving average of $27.48 and a two-hundred day simple moving average of $25.82. American Superconductor Co. has a fifty-two week low of $11.36 and a fifty-two week high of $38.02.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, topping 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, sell-side analysts predict that American Superconductor Co. will post 0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer raised their price objective on American Superconductor from $33.00 to $39.00 and gave the company an “outperform” rating in a research 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.