Driehaus Capital Management LLC Has $21.57 Million Stake in American Superconductor Co. (NASDAQ:AMSC)

Driehaus Capital Management LLC trimmed its stake in American Superconductor Co. (NASDAQ:AMSC) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 921,998 shares of the technology company’s stock after selling 9,981 shares during the period. Driehaus Capital Management LLC owned about 2.49% of American Superconductor worth $21,566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Amalgamated Bank acquired a new stake in American Superconductor in the 2nd quarter worth $28,000. nVerses Capital LLC acquired a new stake in American Superconductor in the 2nd quarter worth $42,000. Canada Pension Plan Investment Board acquired a new stake in American Superconductor in the 2nd quarter worth $96,000. Virtu Financial LLC acquired a new stake in American Superconductor in the 1st quarter worth $152,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in American Superconductor in the 1st quarter worth $153,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Roth Mkm raised their price objective on shares of American Superconductor from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Craig Hallum reaffirmed a “buy” rating and set a $33.00 price objective on shares of American Superconductor in a report on Tuesday, September 10th.

American Superconductor Stock Performance

NASDAQ:AMSC opened at $22.98 on Friday. The company has a 50-day moving average of $21.72 and a 200-day moving average of $19.23. The company has a market capitalization of $850.21 million, a price-to-earnings ratio of -58.92 and a beta of 2.13. American Superconductor Co. has a 52 week low of $5.78 and a 52 week high of $32.70.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.09. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. The firm had revenue of $40.29 million during the quarter, compared to the consensus estimate of $39.55 million. Sell-side analysts forecast that American Superconductor Co. will post 0.17 EPS for the current year.

About American Superconductor

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind. 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; and engineering planning services.