LPL Financial LLC Increases Position in American Superconductor Co. (NASDAQ:AMSC)

LPL Financial LLC increased its stake in shares of American Superconductor Co. (NASDAQ:AMSC) by 332.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 58,534 shares of the technology company’s stock after acquiring an additional 44,985 shares during the period. LPL Financial LLC’s holdings in American Superconductor were worth $1,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of American Superconductor in the 4th quarter valued at approximately $10,188,000. State Street Corp increased its stake in American Superconductor by 18.3% in the 3rd quarter. State Street Corp now owns 906,250 shares of the technology company’s stock valued at $21,388,000 after buying an additional 140,106 shares during the period. KBC Group NV purchased a new position in American Superconductor during the 4th quarter worth $2,492,000. Campbell Newman Asset Management Inc. acquired a new stake in shares of American Superconductor in the 4th quarter worth $1,483,000. Finally, Amundi purchased a new stake in shares of American Superconductor in the fourth quarter valued at about $1,437,000. Institutional investors and hedge funds own 52.28% of the company’s stock.

American Superconductor Stock Performance

Shares of AMSC stock opened at $18.41 on Friday. The stock has a market cap of $726.46 million, a PE ratio of 263.04 and a beta of 2.58. American Superconductor Co. has a 1 year low of $11.36 and a 1 year high of $38.02. The stock has a fifty day moving average price of $21.29 and a 200 day moving average price of $25.48.

American Superconductor (NASDAQ:AMSC) last issued 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 net margin of 1.64% and a return on equity of 8.95%. As a group, equities research analysts predict that American Superconductor Co. will post 0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.