Allspring Global Investments Holdings LLC Cuts Stake in American Superconductor Co. (NASDAQ:AMSC)

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

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of American Superconductor by 211.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock worth $7,187,000 after acquiring an additional 206,655 shares during the period. Centiva Capital LP purchased a new position in shares of American Superconductor during the 3rd quarter worth about $456,000. Main Management ETF Advisors LLC purchased a new position in shares of American Superconductor during the 3rd quarter worth about $806,000. Lisanti Capital Growth LLC lifted its holdings in shares of American Superconductor by 110.2% during the 3rd quarter. Lisanti Capital Growth LLC now owns 131,340 shares of the technology company’s stock worth $3,100,000 after acquiring an additional 68,845 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of American Superconductor during the 3rd quarter worth about $781,000. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

American Superconductor Stock Performance

AMSC opened at $32.43 on Wednesday. The firm has a 50 day moving average price of $27.48 and a 200 day moving average price of $25.82. The company has a market cap of $1.28 billion, a PE ratio of 463.37 and a beta of 2.26. American Superconductor Co. has a 1 year low of $11.36 and a 1 year high of $38.02.

American Superconductor (NASDAQ:AMSC) last posted its 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 net margin of 1.64% and a return on equity of 8.95%. On average, sell-side analysts predict that American Superconductor Co. will post 0.37 earnings per share for the current year.

Analyst Ratings Changes

Separately, Oppenheimer increased their price objective on shares of American Superconductor from $33.00 to $39.00 and gave the stock an “outperform” rating in a report 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.