Nkcfo LLC Buys New Shares in American Superconductor Co. (NASDAQ:AMSC)

Nkcfo LLC bought a new position in American Superconductor Co. (NASDAQ:AMSC) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 47,000 shares of the technology company’s stock, valued at approximately $1,158,000. Nkcfo LLC owned 0.12% of American Superconductor as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of American Superconductor in the third quarter worth about $10,246,000. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $7,187,000 after purchasing an additional 206,655 shares during the last quarter. State Street Corp boosted its stake in shares of American Superconductor by 18.3% during the third quarter. State Street Corp now owns 906,250 shares of the technology company’s stock valued at $21,388,000 after purchasing an additional 140,106 shares during the period. KBC Group NV purchased a new stake in shares of American Superconductor during the fourth quarter valued at approximately $2,492,000. Finally, Lisanti Capital Growth LLC grew its holdings in shares of American Superconductor by 110.2% in the third quarter. Lisanti Capital Growth LLC now owns 131,340 shares of the technology company’s stock worth $3,100,000 after purchasing an additional 68,845 shares during the last quarter. 52.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

American Superconductor Stock Down 1.7 %

Shares of American Superconductor stock opened at $31.16 on Friday. The business has a 50 day moving average of $27.43 and a 200 day moving average of $25.75. American Superconductor Co. has a 52 week low of $11.36 and a 52 week high of $38.02. The company has a market cap of $1.23 billion, a PE ratio of 445.21 and a beta of 2.26.

American Superconductor (NASDAQ:AMSC) last posted 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 net margin of 1.64% and a return on equity of 8.95%. On average, research analysts anticipate that American Superconductor Co. will post 0.37 earnings per share for the current year.

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.