Rice Hall James & Associates LLC Reduces Stock Position in American Superconductor Co. (NASDAQ:AMSC)

Rice Hall James & Associates LLC trimmed its position in American Superconductor Co. (NASDAQ:AMSC) by 0.7% during the third quarter, Holdings Channel.com reports. The firm owned 147,192 shares of the technology company’s stock after selling 1,096 shares during the period. Rice Hall James & Associates LLC’s holdings in American Superconductor were worth $3,474,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Amalgamated Bank acquired a new position in shares of American Superconductor in the second quarter valued at approximately $28,000. nVerses Capital LLC purchased a new stake in American Superconductor in the 2nd quarter worth approximately $42,000. CWM LLC acquired a new position in American Superconductor in the 3rd quarter valued at $57,000. Canada Pension Plan Investment Board purchased a new position in shares of American Superconductor during the 2nd quarter worth $96,000. Finally, Virtu Financial LLC acquired a new stake in shares of American Superconductor during the first quarter worth $152,000. 52.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on AMSC. Roth Mkm reiterated a “buy” rating and issued a $29.00 target price on shares of American Superconductor in a research note on Monday, September 30th. Craig Hallum reiterated a “buy” rating and set a $33.00 price objective on shares of American Superconductor in a report on Tuesday, September 10th.

American Superconductor Price Performance

Shares of NASDAQ:AMSC opened at $28.54 on Friday. The business has a 50-day moving average of $22.39 and a two-hundred day moving average of $21.04. The firm has a market capitalization of $1.13 billion, a PE ratio of -570.69 and a beta of 2.14. American Superconductor Co. has a 12 month low of $6.73 and a 12 month high of $32.70.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.09. American Superconductor had a negative net margin of 0.49% and a positive return on equity of 9.38%. The firm had revenue of $40.29 million for the quarter, compared to analyst estimates of $39.55 million. As a group, research analysts anticipate that American Superconductor Co. will post 0.18 earnings per share for the current year.

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.