Hood River Capital Management LLC Has $40.58 Million Stake in American Superconductor Co. (NASDAQ:AMSC)

Hood River Capital Management LLC lifted its stake in American Superconductor Co. (NASDAQ:AMSC) by 7.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,735,014 shares of the technology company’s stock after purchasing an additional 116,207 shares during the quarter. Hood River Capital Management LLC owned 4.69% of American Superconductor worth $40,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMSC. GoalVest Advisory LLC purchased a new stake in American Superconductor in the 1st quarter worth approximately $404,000. Cannon Global Investment Management LLC acquired a new position in shares of American Superconductor in the first quarter worth $345,000. Baillie Gifford & Co. raised its holdings in shares of American Superconductor by 21.1% during the first quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock worth $34,134,000 after acquiring an additional 440,271 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in American Superconductor during the first quarter valued at $1,419,000. Finally, ClariVest Asset Management LLC purchased a new position in American Superconductor in the first quarter valued at about $1,179,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

American Superconductor Stock Performance

NASDAQ AMSC opened at $22.03 on Monday. American Superconductor Co. has a twelve month low of $5.78 and a twelve month high of $32.70. The stock has a market cap of $815.07 million, a PE ratio of -56.49 and a beta of 2.13. The firm has a 50-day simple moving average of $22.29 and a 200 day simple moving average of $18.99.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. The firm had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.55 million. Research analysts forecast that American Superconductor Co. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on AMSC shares. Craig Hallum restated a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research note on Tuesday, September 10th. Oppenheimer increased their target price on shares of American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Finally, Roth Mkm boosted their price target on American Superconductor from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th.

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.