American Superconductor Co. (NASDAQ:AMSC) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in American Superconductor Co. (NASDAQ:AMSC) by 65.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 187,989 shares of the technology company’s stock after purchasing an additional 74,500 shares during the period. Renaissance Technologies LLC’s holdings in American Superconductor were worth $4,397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of American Superconductor during the second quarter worth $42,000. Virtu Financial LLC acquired a new stake in American Superconductor in the 1st quarter valued at about $152,000. Hillsdale Investment Management Inc. purchased a new position in shares of American Superconductor in the 1st quarter valued at about $153,000. Quadrature Capital Ltd acquired a new position in shares of American Superconductor during the first quarter worth about $203,000. Finally, Cannon Global Investment Management LLC purchased a new stake in shares of American Superconductor during the first quarter worth approximately $345,000. Hedge funds and other institutional investors own 52.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMSC. Roth Mkm raised their target price on American Superconductor from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Craig Hallum reissued 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 $22.98 on Friday. The stock has a fifty day moving average price of $21.72 and a 200 day moving average price of $19.23. American Superconductor Co. has a 1-year low of $5.78 and a 1-year high of $32.70. The company has a market cap of $850.21 million, a PE ratio of -58.92 and a beta of 2.13.

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, beating analysts’ consensus estimates of ($0.04) by $0.09. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. The firm had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.55 million. Analysts anticipate that American Superconductor Co. will post 0.17 earnings per share for the current fiscal year.

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.