JPMorgan Chase & Co. Sells 39,460 Shares of American Superconductor Co. (NASDAQ:AMSC)

JPMorgan Chase & Co. decreased its position in American Superconductor Co. (NASDAQ:AMSC) by 45.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,717 shares of the technology company’s stock after selling 39,460 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.12% of American Superconductor worth $1,103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Amalgamated Bank acquired a new position in American Superconductor during the 2nd quarter worth $28,000. CWM LLC acquired a new position in shares of American Superconductor during the 3rd quarter worth about $57,000. Quest Partners LLC bought a new stake in American Superconductor during the 3rd quarter valued at approximately $88,000. Canada Pension Plan Investment Board acquired a new stake in American Superconductor in the 2nd quarter valued at approximately $96,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in American Superconductor in the 3rd quarter worth approximately $277,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

American Superconductor Stock Down 2.3 %

AMSC stock opened at $29.04 on Friday. The business’s 50-day simple moving average is $28.72 and its 200 day simple moving average is $25.61. The company has a market cap of $1.15 billion, a PE ratio of -580.68 and a beta of 2.28. American Superconductor Co. has a twelve month low of $10.19 and a twelve month high of $38.02.

Analyst Upgrades and Downgrades

Separately, Roth Mkm restated a “buy” rating and issued a $29.00 price objective 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 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.