20,049 Shares in American Superconductor Co. (NASDAQ:AMSC) Purchased by Summit Global Investments

Summit Global Investments acquired a new stake in American Superconductor Co. (NASDAQ:AMSC) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 20,049 shares of the technology company’s stock, valued at approximately $494,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Intech Investment Management LLC purchased a new stake in American Superconductor during the 4th quarter valued at $355,000. Commonwealth Equity Services LLC purchased a new stake in shares of American Superconductor in the fourth quarter valued at $292,000. Swiss National Bank raised its stake in shares of American Superconductor by 4.3% in the fourth quarter. Swiss National Bank now owns 75,300 shares of the technology company’s stock valued at $1,855,000 after acquiring an additional 3,100 shares during the period. Amundi purchased a new position in shares of American Superconductor during the 4th quarter worth about $1,437,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in American Superconductor during the 4th quarter valued at about $1,116,000. Hedge funds and other institutional investors own 52.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer raised their price objective on shares of American Superconductor from $33.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th.

American Superconductor Stock Up 8.8 %

AMSC stock opened at $21.59 on Tuesday. American Superconductor Co. has a twelve month low of $11.36 and a twelve month high of $38.02. The firm has a market cap of $851.94 million, a price-to-earnings ratio of 308.47 and a beta of 2.45. The business’s fifty day simple moving average is $25.29 and its two-hundred day simple moving average is $26.10.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. Research analysts expect that American Superconductor Co. will post 0.41 EPS for the current year.

About American Superconductor

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.