First Trust Advisors LP Purchases 43,808 Shares of American Superconductor Co. (NASDAQ:AMSC)

First Trust Advisors LP grew its position in American Superconductor Co. (NASDAQ:AMSC) by 15.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,053 shares of the technology company’s stock after purchasing an additional 43,808 shares during the period. First Trust Advisors LP owned about 0.85% of American Superconductor worth $8,252,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of American Superconductor by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 856,455 shares of the technology company’s stock worth $21,099,000 after purchasing an additional 9,043 shares during the period. Wellington Management Group LLP bought a new stake in American Superconductor in the fourth quarter worth about $11,360,000. Raymond James Financial Inc. bought a new stake in American Superconductor in the fourth quarter worth about $10,188,000. Legal & General Group Plc boosted its stake in American Superconductor by 1.8% in the fourth quarter. Legal & General Group Plc now owns 347,549 shares of the technology company’s stock valued at $8,560,000 after acquiring an additional 6,192 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of American Superconductor by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 317,869 shares of the technology company’s stock valued at $7,829,000 after acquiring an additional 13,341 shares during the period. 52.28% of the stock is owned by institutional investors.

American Superconductor Stock Up 0.5 %

AMSC opened at $20.22 on Wednesday. The firm has a 50-day moving average price of $19.38 and a 200-day moving average price of $25.30. American Superconductor Co. has a twelve month low of $12.14 and a twelve month high of $38.02. The company has a market capitalization of $797.88 million, a price-to-earnings ratio of 288.90 and a beta of 2.58.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.09 EPS 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, sell-side analysts expect that American Superconductor Co. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer increased their price objective 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 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.