60,332 Shares in American Superconductor Co. (NASDAQ:AMSC) Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of American Superconductor Co. (NASDAQ:AMSC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 60,332 shares of the technology company’s stock, valued at approximately $1,424,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in American Superconductor during the 3rd quarter worth approximately $10,246,000. Charles Schwab Investment Management Inc. boosted its position in shares of American Superconductor by 211.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock worth $7,187,000 after buying an additional 206,655 shares during the period. Rice Hall James & Associates LLC purchased a new position in shares of American Superconductor during the second quarter valued at $3,468,000. Hood River Capital Management LLC raised 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 valued at $40,582,000 after buying an additional 116,207 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in American Superconductor by 524.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 122,239 shares of the technology company’s stock worth $2,859,000 after acquiring an additional 102,652 shares during the period. Institutional investors and hedge funds own 52.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Craig Hallum reiterated a “buy” rating and issued a $33.00 target price on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm reiterated a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Price Performance

Shares of AMSC stock opened at $25.93 on Wednesday. The firm has a market cap of $1.02 billion, a P/E ratio of -518.50 and a beta of 2.21. American Superconductor Co. has a fifty-two week low of $9.37 and a fifty-two week high of $38.02. The stock’s 50-day moving average is $28.74 and its two-hundred day moving average is $25.09.

About American Superconductor

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.