Cannon Global Investment Management LLC Buys New Stake in American Superconductor Co. (NASDAQ:AMSC)

Cannon Global Investment Management LLC bought a new stake in American Superconductor Co. (NASDAQ:AMSC) during the first quarter, according to its most recent filing with the SEC. The firm bought 25,500 shares of the technology company’s stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMSC. Barclays PLC grew its stake in American Superconductor by 640,100.0% in the 3rd quarter. Barclays PLC now owns 25,608 shares of the technology company’s stock valued at $193,000 after buying an additional 25,604 shares during the last quarter. Invesco Ltd. grew its stake in American Superconductor by 58.9% in the 3rd quarter. Invesco Ltd. now owns 873,006 shares of the technology company’s stock valued at $6,591,000 after buying an additional 323,472 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in American Superconductor by 11.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 25,752 shares of the technology company’s stock valued at $194,000 after buying an additional 2,614 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in American Superconductor by 172.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,120 shares of the technology company’s stock valued at $922,000 after buying an additional 77,303 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in American Superconductor in the 3rd quarter valued at $1,290,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Superconductor

In other news, CFO John W. Kosiba, Jr. sold 29,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $429,780.00. Following the completion of the transaction, the chief financial officer now directly owns 348,136 shares of the company’s stock, valued at approximately $5,159,375.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO John W. Kosiba, Jr. sold 32,000 shares of American Superconductor stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $21.68, for a total transaction of $693,760.00. Following the completion of the transaction, the chief financial officer now directly owns 316,136 shares of the company’s stock, valued at approximately $6,853,828.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John W. Kosiba, Jr. sold 29,000 shares of American Superconductor stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $429,780.00. Following the transaction, the chief financial officer now directly owns 348,136 shares of the company’s stock, valued at $5,159,375.52. The disclosure for this sale can be found here. In the last three months, insiders sold 118,724 shares of company stock valued at $2,234,333. Company insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMSC shares. Roth Mkm increased their price target on shares of American Superconductor from $20.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Oppenheimer increased their price target on shares of American Superconductor from $16.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Finally, Craig Hallum increased their price target on shares of American Superconductor from $16.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 31st.

American Superconductor Stock Down 3.6 %

American Superconductor stock traded down $0.88 during mid-day trading on Friday, reaching $23.39. The company had a trading volume of 6,103,114 shares, compared to its average volume of 1,223,479. The company has a 50 day moving average of $17.87 and a 200-day moving average of $14.20. The firm has a market cap of $865.38 million, a price-to-earnings ratio of -59.97 and a beta of 2.08. American Superconductor Co. has a 52 week low of $5.75 and a 52 week high of $27.38.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $42.03 million during the quarter, compared to the consensus estimate of $36.75 million. American Superconductor had a negative net margin of 7.63% and a negative return on equity of 4.26%. On average, analysts predict that American Superconductor Co. will post -0.04 earnings per share for the current fiscal year.

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.