Raymond James Financial Inc. Invests $10.19 Million in American Superconductor Co. (NASDAQ:AMSC)

Raymond James Financial Inc. purchased a new position in shares of American Superconductor Co. (NASDAQ:AMSC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 413,646 shares of the technology company’s stock, valued at approximately $10,188,000. Raymond James Financial Inc. owned approximately 1.05% of American Superconductor as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of American Superconductor during the fourth quarter worth $65,000. Jones Financial Companies Lllp grew its stake in shares of American Superconductor by 1,083.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company’s stock worth $73,000 after purchasing an additional 2,708 shares during the last quarter. Quest Partners LLC bought a new stake in shares of American Superconductor in the third quarter worth $88,000. Truist Financial Corp bought a new stake in shares of American Superconductor in the fourth quarter worth $251,000. Finally, Private Advisor Group LLC bought a new stake in shares of American Superconductor in the fourth quarter worth $264,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

American Superconductor Stock Down 1.1 %

Shares of American Superconductor stock opened at $19.84 on Friday. The stock has a market cap of $782.89 million, a price-to-earnings ratio of 283.47 and a beta of 2.45. The company’s fifty day moving average is $25.38 and its 200 day moving average is $25.97. American Superconductor Co. has a twelve month low of $11.36 and a twelve month high of $38.02.

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 net margin of 1.64% and a return on equity of 8.95%. As a group, equities analysts anticipate that American Superconductor Co. will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

American Superconductor Company 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.