Mackay Shields LLC trimmed its holdings in shares of American Superconductor Co. (NASDAQ:AMSC) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,300 shares of the technology company’s stock after selling 11,700 shares during the quarter. Mackay Shields LLC owned about 0.59% of American Superconductor worth $998,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of AMSC. Bank of Montreal Can grew its position in shares of American Superconductor by 175.3% in the second quarter. Bank of Montreal Can now owns 2,753 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,753 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of American Superconductor by 1,087.0% in the second quarter. JPMorgan Chase & Co. now owns 5,769 shares of the technology company’s stock valued at $51,000 after purchasing an additional 5,283 shares during the last quarter. Royal Bank of Canada grew its position in shares of American Superconductor by 29.4% in the second quarter. Royal Bank of Canada now owns 12,669 shares of the technology company’s stock valued at $118,000 after purchasing an additional 2,875 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of American Superconductor in the second quarter valued at about $148,000. Finally, Rhumbline Advisers grew its position in shares of American Superconductor by 10.7% in the third quarter. Rhumbline Advisers now owns 21,330 shares of the technology company’s stock valued at $167,000 after purchasing an additional 2,070 shares during the last quarter. 44.90% of the stock is currently owned by hedge funds and other institutional investors.
AMSC stock opened at $7.78 on Friday. The company has a quick ratio of 2.42, a current ratio of 2.97 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $8.18 and its 200 day simple moving average is $8.89. American Superconductor Co. has a twelve month low of $7.24 and a twelve month high of $16.44. The company has a market cap of $162.81 million, a PE ratio of -9.85 and a beta of 1.07.
American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.25. American Superconductor had a net margin of 8.10% and a negative return on equity of 20.48%. The firm had revenue of $14.01 million during the quarter, compared to analysts’ expectations of $13.35 million. During the same quarter in the previous year, the company posted ($0.13) EPS. On average, equities research analysts anticipate that American Superconductor Co. will post -1.03 EPS for the current year.
Several brokerages have recently issued reports on AMSC. ValuEngine downgraded American Superconductor from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. Zacks Investment Research raised American Superconductor from a “hold” rating to a “strong-buy” rating and set a $8.50 price target on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $11.83.
American Superconductor Company Profile
American Superconductor Corporation provides megawatt-scale solutions worldwide. The company operates in two segments, Wind and Grid. The Wind segment designs wind turbine systems and licenses these designs to third parties under the Windtec Solutions brand. It supplies power electronics and software-based control systems, and provides customer support services to wind turbine manufacturers.
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