461,230 Shares in American Superconductor Co. (NASDAQ:AMSC) Bought by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in shares of American Superconductor Co. (NASDAQ:AMSC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 461,230 shares of the technology company’s stock, valued at approximately $11,360,000. Wellington Management Group LLP owned about 1.17% of American Superconductor as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new position in American Superconductor during the fourth quarter worth $7,310,000. JPMorgan Chase & Co. raised its holdings in American Superconductor by 7.1% during the fourth quarter. JPMorgan Chase & Co. now owns 50,012 shares of the technology company’s stock worth $1,232,000 after purchasing an additional 3,295 shares during the last quarter. Emerald Advisers LLC acquired a new position in shares of American Superconductor in the fourth quarter worth $693,000. LPL Financial LLC raised its holdings in shares of American Superconductor by 332.0% in the fourth quarter. LPL Financial LLC now owns 58,534 shares of the technology company’s stock worth $1,442,000 after acquiring an additional 44,985 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of American Superconductor in the fourth quarter worth $170,000. 52.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

American Superconductor Stock Up 17.6 %

NASDAQ AMSC opened at $18.81 on Thursday. American Superconductor Co. has a fifty-two week low of $11.36 and a fifty-two week high of $38.02. The stock has a market cap of $742.24 million, a price-to-earnings ratio of 268.75 and a beta of 2.58. The business has a fifty day moving average of $22.65 and a 200-day moving average of $25.71.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 EPS for the quarter, beating 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%. As a group, analysts anticipate that American Superconductor Co. will post 0.41 EPS 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.