Baillie Gifford & Co. Trims Stock Holdings in American Superconductor Co. (NASDAQ:AMSC)

Baillie Gifford & Co. decreased its holdings in shares of American Superconductor Co. (NASDAQ:AMSC) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,106,395 shares of the technology company’s stock after selling 107,688 shares during the period. Baillie Gifford & Co. owned approximately 5.34% of American Superconductor worth $49,711,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AMSC. AWM Investment Company Inc. grew its holdings in American Superconductor by 19.4% during the first quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock worth $35,954,000 after acquiring an additional 433,018 shares during the period. Hood River Capital Management LLC increased its position in American Superconductor by 7.2% during the second quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company’s stock worth $40,582,000 after purchasing an additional 116,207 shares during the last quarter. Vanguard Group Inc. raised its position in shares of American Superconductor by 30.5% in the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock worth $22,953,000 after buying an additional 396,814 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of American Superconductor by 643.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock worth $24,725,000 after purchasing an additional 914,872 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in American Superconductor in the third quarter valued at approximately $10,246,000. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

American Superconductor Stock Performance

American Superconductor stock opened at $36.06 on Wednesday. The firm’s 50-day moving average is $23.64 and its 200-day moving average is $21.96. American Superconductor Co. has a 1 year low of $7.64 and a 1 year high of $37.40. The company has a market cap of $1.42 billion, a P/E ratio of -736.20 and a beta of 2.14.

American Superconductor 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.