ArrowMark Colorado Holdings LLC Sells 41,000 Shares of American Superconductor Co. (NASDAQ:AMSC)

ArrowMark Colorado Holdings LLC lessened its position in shares of American Superconductor Co. (NASDAQ:AMSC) by 16.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 205,432 shares of the technology company’s stock after selling 41,000 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 0.52% of American Superconductor worth $4,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AMSC. Hood River Capital Management LLC lifted its stake 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 worth $40,582,000 after purchasing an additional 116,207 shares during the last quarter. Vanguard Group Inc. boosted its stake in American Superconductor by 30.5% in the first quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock valued at $22,953,000 after buying an additional 396,814 shares in the last quarter. Assenagon Asset Management S.A. grew its position in American Superconductor by 643.4% in the second quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock valued at $24,725,000 after acquiring an additional 914,872 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in American Superconductor during the third quarter worth about $10,246,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 206,655 shares during the last quarter. Institutional investors and hedge funds own 52.28% of the company’s stock.

Wall Street Analyst Weigh In

AMSC has been the subject of a number of research analyst reports. Roth Mkm reiterated a “buy” rating and set a $29.00 price objective on shares of American Superconductor in a research report on Monday, September 30th. Craig Hallum reiterated a “buy” rating and issued a $33.00 price target on shares of American Superconductor in a research note on Tuesday, September 10th.

American Superconductor Price Performance

Shares of NASDAQ AMSC opened at $34.49 on Tuesday. The company has a 50 day simple moving average of $27.30 and a 200 day simple moving average of $24.05. American Superconductor Co. has a 1 year low of $9.37 and a 1 year high of $38.02. The firm has a market cap of $1.36 billion, a PE ratio of -689.80 and a beta of 2.14.

American Superconductor Company 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.