PNC Financial Services Group Inc. Buys 2,948 Shares of American Superconductor Co. (NASDAQ:AMSC)

PNC Financial Services Group Inc. increased its stake in American Superconductor Co. (NASDAQ:AMSC) by 8,670.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,982 shares of the technology company’s stock after purchasing an additional 2,948 shares during the quarter. PNC Financial Services Group Inc.’s holdings in American Superconductor were worth $73,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AMSC. Arizona State Retirement System increased its position in American Superconductor by 4.1% in the fourth quarter. Arizona State Retirement System now owns 11,092 shares of the technology company’s stock worth $273,000 after buying an additional 439 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of American Superconductor by 4.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 12,475 shares of the technology company’s stock worth $307,000 after acquiring an additional 500 shares during the period. Rhumbline Advisers increased its holdings in American Superconductor by 1.2% in the 4th quarter. Rhumbline Advisers now owns 51,119 shares of the technology company’s stock worth $1,259,000 after acquiring an additional 606 shares during the last quarter. New York State Common Retirement Fund raised its stake in American Superconductor by 3.8% in the 4th quarter. New York State Common Retirement Fund now owns 66,536 shares of the technology company’s stock valued at $1,639,000 after acquiring an additional 2,436 shares during the period. Finally, Spire Wealth Management lifted its holdings in American Superconductor by 17.7% during the fourth quarter. Spire Wealth Management now owns 17,517 shares of the technology company’s stock valued at $431,000 after purchasing an additional 2,628 shares during the last quarter. Hedge funds and other institutional investors own 52.28% of the company’s stock.

Analysts Set New Price Targets

Separately, Oppenheimer lifted their target price on shares of American Superconductor from $33.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th.

American Superconductor Price Performance

American Superconductor stock opened at $21.48 on Wednesday. The firm has a market capitalization of $847.60 million, a P/E ratio of 306.90 and a beta of 2.45. American Superconductor Co. has a one year low of $11.36 and a one year high of $38.02. The business has a fifty day moving average price of $25.19 and a 200-day moving average price of $26.12.

American Superconductor (NASDAQ:AMSC) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. Sell-side analysts expect that American Superconductor Co. will post 0.41 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 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.