Renaissance Technologies LLC Buys 74,500 Shares of American Superconductor Co. (NASDAQ:AMSC)

Renaissance Technologies LLC increased its stake in shares of American Superconductor Co. (NASDAQ:AMSC) by 65.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 187,989 shares of the technology company’s stock after acquiring an additional 74,500 shares during the quarter. Renaissance Technologies LLC owned about 0.51% of American Superconductor worth $4,397,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMSC. Baillie Gifford & Co. raised its holdings in American Superconductor by 21.1% during the 1st quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after buying an additional 440,271 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of American Superconductor by 92.5% in the 1st quarter. Acadian Asset Management LLC now owns 48,218 shares of the technology company’s stock worth $649,000 after acquiring an additional 23,174 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in shares of American Superconductor during the 1st quarter worth about $1,179,000. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 396,814 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in American Superconductor in the 2nd quarter worth about $2,704,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

American Superconductor Trading Up 4.2 %

NASDAQ AMSC opened at $22.98 on Friday. American Superconductor Co. has a 12-month low of $5.78 and a 12-month high of $32.70. The company has a fifty day simple moving average of $21.72 and a two-hundred day simple moving average of $19.23. The stock has a market cap of $850.21 million, a P/E ratio of -58.92 and a beta of 2.13.

American Superconductor (NASDAQ:AMSC) last released its earnings results on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $40.29 million during the quarter, compared to the consensus estimate of $39.55 million. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. As a group, sell-side analysts forecast that American Superconductor Co. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

AMSC has been the topic of a number of research analyst reports. Craig Hallum restated a “buy” rating and issued a $33.00 price target on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm upped their target price on shares of American Superconductor from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th.

American Superconductor Company 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.