Allspring Global Investments Holdings LLC Sells 56,770 Shares of American Superconductor Co. (NASDAQ:AMSC)

Allspring Global Investments Holdings LLC decreased its stake in American Superconductor Co. (NASDAQ:AMSC) by 13.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 377,375 shares of the technology company’s stock after selling 56,770 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.96% of American Superconductor worth $9,295,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AMSC. CWM LLC acquired a new position in shares of American Superconductor in the third quarter valued at $57,000. Quest Partners LLC bought a new stake in American Superconductor during the 3rd quarter worth about $88,000. Heck Capital Advisors LLC acquired a new stake in American Superconductor in the 4th quarter valued at about $279,000. PFG Investments LLC acquired a new position in shares of American Superconductor during the fourth quarter worth approximately $280,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of American Superconductor during the third quarter valued at approximately $277,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

American Superconductor Stock Up 4.1 %

Shares of NASDAQ:AMSC opened at $32.43 on Wednesday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 463.37 and a beta of 2.26. American Superconductor Co. has a 12 month low of $11.36 and a 12 month high of $38.02. The company’s fifty day simple moving average is $27.48 and its 200 day simple moving average is $25.82.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.09 EPS for the quarter, beating 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%. Research analysts expect that American Superconductor Co. will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer upped their price objective on American Superconductor from $33.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, February 7th.

About American Superconductor

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.