American Superconductor Co. (NASDAQ:AMSC) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in American Superconductor Co. (NASDAQ:AMSC) by 25.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,848 shares of the technology company’s stock after selling 124,819 shares during the quarter. Millennium Management LLC owned 1.01% of American Superconductor worth $8,768,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. AWM Investment Company Inc. increased its position in shares of American Superconductor by 19.4% during the first quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock worth $35,954,000 after acquiring an additional 433,018 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of American Superconductor by 21.1% in the 1st quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after purchasing an additional 440,271 shares in the last quarter. Hood River Capital Management LLC raised its position in shares of American Superconductor by 7.2% in the 2nd quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company’s stock valued at $40,582,000 after purchasing an additional 116,207 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of American Superconductor by 30.5% during the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock valued at $22,953,000 after buying an additional 396,814 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of American Superconductor by 643.4% during the second quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock worth $24,725,000 after buying an additional 914,872 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company’s stock.

American Superconductor Trading Down 3.8 %

Shares of NASDAQ AMSC opened at $22.60 on Wednesday. The company has a market capitalization of $836.15 million, a price-to-earnings ratio of -58.41 and a beta of 2.14. American Superconductor Co. has a twelve month low of $5.78 and a twelve month high of $32.70. The business has a 50 day simple moving average of $21.27 and a 200-day simple moving average of $19.68.

American Superconductor (NASDAQ:AMSC) last released its earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share 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 analyst estimates of $39.55 million. As a group, equities analysts predict that American Superconductor Co. will post 0.17 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Craig Hallum reaffirmed a “buy” rating and issued a $33.00 price target on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm restated a “buy” rating and issued a $29.00 target price on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Profile

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.