Hillsdale Investment Management Inc. Purchases New Stake in American Superconductor Co. (NASDAQ:AMSC)

Hillsdale Investment Management Inc. purchased a new stake in shares of American Superconductor Co. (NASDAQ:AMSC) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,300 shares of the technology company’s stock, valued at approximately $153,000.

Several other hedge funds also recently bought and sold shares of the company. Atria Wealth Solutions Inc. increased its position in American Superconductor by 18.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 14,469 shares of the technology company’s stock worth $161,000 after purchasing an additional 2,294 shares during the last quarter. Psagot Value Holdings Ltd. Israel bought a new stake in American Superconductor during the 4th quarter valued at approximately $33,000. Merit Financial Group LLC boosted its stake in American Superconductor by 5.8% during the 4th quarter. Merit Financial Group LLC now owns 82,389 shares of the technology company’s stock valued at $918,000 after purchasing an additional 4,490 shares during the period. AJOVista LLC bought a new stake in American Superconductor during the 4th quarter valued at approximately $69,000. Finally, Citigroup Inc. bought a new stake in shares of American Superconductor in the 3rd quarter worth approximately $92,000. 52.28% of the stock is owned by institutional investors and hedge funds.

American Superconductor Price Performance

Shares of NASDAQ AMSC traded up $2.28 during midday trading on Monday, hitting $28.53. The stock had a trading volume of 1,246,530 shares, compared to its average volume of 978,832. American Superconductor Co. has a fifty-two week low of $5.78 and a fifty-two week high of $32.70. The firm has a market cap of $1.06 billion, a P/E ratio of -73.15 and a beta of 2.17. The company’s 50-day simple moving average is $22.55 and its 200 day simple moving average is $16.08.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other American Superconductor news, CEO Daniel P. Mcgahn sold 37,165 shares of American Superconductor stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $21.69, for a total transaction of $806,108.85. Following the transaction, the chief executive officer now directly owns 1,019,956 shares in the company, valued at $22,122,845.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Daniel P. Mcgahn sold 20,559 shares of American Superconductor stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total value of $304,684.38. Following the sale, the chief executive officer now owns 1,057,121 shares of the company’s stock, valued at $15,666,533.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel P. Mcgahn sold 37,165 shares of American Superconductor stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total value of $806,108.85. Following the completion of the sale, the chief executive officer now directly owns 1,019,956 shares in the company, valued at approximately $22,122,845.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,724 shares of company stock worth $2,234,333. Corporate insiders own 4.40% of the company’s stock.

American Superconductor 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.