American Superconductor Corporation $AMSC Stock: Verity Asset Management Inc. Boosts Stake

Verity Asset Management Inc. raised its position in shares of American Superconductor Corporation (NASDAQ:AMSC) by 135.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,285 shares of the technology company’s stock after buying an additional 22,039 shares during the quarter. Verity Asset Management Inc. owned about 0.08% of American Superconductor worth $1,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its holdings in shares of American Superconductor by 624.3% during the 3rd quarter. Fortitude Family Office LLC now owns 985 shares of the technology company’s stock valued at $29,000 after buying an additional 849 shares in the last quarter. Nykredit A S bought a new position in shares of American Superconductor in the 2nd quarter worth about $46,000. Rockefeller Capital Management L.P. increased its stake in shares of American Superconductor by 45.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,563 shares of the technology company’s stock worth $45,000 after acquiring an additional 492 shares in the last quarter. Sterling Capital Management LLC lifted its position in American Superconductor by 850.9% during the 3rd quarter. Sterling Capital Management LLC now owns 1,569 shares of the technology company’s stock valued at $46,000 after acquiring an additional 1,404 shares during the period. Finally, Optiver Holding B.V. purchased a new position in American Superconductor during the 1st quarter valued at about $64,000. Hedge funds and other institutional investors own 52.28% of the company’s stock.

Wall Street Analyst Weigh In

AMSC has been the topic of several research reports. Wall Street Zen raised shares of American Superconductor from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Weiss Ratings downgraded shares of American Superconductor from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. Freedom Capital upgraded shares of American Superconductor to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Roth Capital reiterated a “buy” rating and set a $55.00 target price (down from $58.00) on shares of American Superconductor in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.00.

American Superconductor Price Performance

Shares of NASDAQ:AMSC opened at $26.26 on Thursday. American Superconductor Corporation has a 1-year low of $24.08 and a 1-year high of $60.65. The business has a fifty day moving average price of $28.57 and a 200-day moving average price of $35.08. The company has a market capitalization of $1.27 billion, a PE ratio of 8.67 and a beta of 3.32.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings results on Wednesday, November 4th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $94.04 million during the quarter, compared to the consensus estimate of $87.32 million. American Superconductor had a return on equity of 27.41% and a net margin of 42.56%. The business’s revenue for the quarter was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 EPS. On average, sell-side analysts anticipate that American Superconductor Corporation will post 0.37 earnings per share for the current fiscal year.

About American Superconductor

American Superconductor Corporation (NASDAQ:AMSC) develops power-resiliency solutions that help electric utilities, industrial companies, renewable-energy developers and defense organizations improve the reliability, efficiency and performance of electrical systems. The company combines power electronics, software and engineering services to address challenges involving grid stability, power quality and renewable-energy integration.

AMSC’s Gridtec business offers solutions such as voltage-regulation and power-quality systems, grid interconnection technologies, and resilient-grid products designed to support electric transmission and distribution networks.