Ieq Capital LLC Acquires New Stake in American Superconductor Co. (NASDAQ:AMSC)

Ieq Capital LLC acquired a new stake in American Superconductor Co. (NASDAQ:AMSC) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 22,835 shares of the technology company’s stock, valued at approximately $562,000.

Several other hedge funds have also recently added to or reduced their stakes in AMSC. Quest Partners LLC acquired a new position in American Superconductor in the 3rd quarter valued at $88,000. Truist Financial Corp purchased a new stake in American Superconductor in the 4th quarter valued at $251,000. Private Advisor Group LLC purchased a new stake in American Superconductor in the 4th quarter valued at $264,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in American Superconductor in the 3rd quarter valued at $277,000. Finally, Heck Capital Advisors LLC purchased a new stake in American Superconductor in the 4th quarter valued at $279,000. 52.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Oppenheimer upped their target price on American Superconductor from $33.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, February 7th.

American Superconductor Stock Up 6.1 %

Shares of NASDAQ:AMSC opened at $23.74 on Thursday. The business has a fifty day moving average of $27.55 and a two-hundred day moving average of $26.11. The stock has a market cap of $936.78 million, a P/E ratio of 339.19 and a beta of 2.26. American Superconductor Co. has a 52-week low of $11.36 and a 52-week high of $38.02.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities analysts anticipate that American Superconductor Co. will post 0.41 earnings per share for the current year.

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.