Truist Financial Corp Takes Position in American Superconductor Co. (NASDAQ:AMSC)

Truist Financial Corp bought a new position in shares of American Superconductor Co. (NASDAQ:AMSC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,200 shares of the technology company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMSC. State Street Corp lifted its holdings in shares of American Superconductor by 18.3% in the 3rd quarter. State Street Corp now owns 906,250 shares of the technology company’s stock valued at $21,388,000 after buying an additional 140,106 shares during the period. Geode Capital Management LLC boosted its position in American Superconductor by 4.5% during the third quarter. Geode Capital Management LLC now owns 847,412 shares of the technology company’s stock worth $20,003,000 after purchasing an additional 36,511 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in American Superconductor by 211.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock worth $7,187,000 after purchasing an additional 206,655 shares in the last quarter. Lisanti Capital Growth LLC grew its holdings in American Superconductor by 110.2% in the third quarter. Lisanti Capital Growth LLC now owns 131,340 shares of the technology company’s stock valued at $3,100,000 after purchasing an additional 68,845 shares during the period. Finally, KBC Group NV purchased a new stake in shares of American Superconductor in the fourth quarter valued at approximately $2,492,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

American Superconductor Trading Up 3.1 %

Shares of American Superconductor stock opened at $19.99 on Thursday. American Superconductor Co. has a twelve month low of $11.36 and a twelve month high of $38.02. The firm’s 50-day moving average price is $27.14 and its 200 day moving average price is $26.12. The firm has a market capitalization of $788.81 million, a PE ratio of 285.61 and a beta of 2.26.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that American Superconductor Co. will post 0.41 EPS for the current fiscal year.

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.