Mayflower Financial Advisors LLC Invests $210,000 in American Superconductor Corporation $AMSC

Mayflower Financial Advisors LLC acquired a new position in shares of American Superconductor Corporation (NASDAQ:AMSC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,730 shares of the technology company’s stock, valued at approximately $210,000.

Several other institutional investors also recently modified their holdings of AMSC. Atreides Management LP acquired a new position in shares of American Superconductor during the 1st quarter worth about $14,948,000. Nuveen LLC acquired a new position in shares of American Superconductor during the 1st quarter worth about $14,123,000. Trexquant Investment LP acquired a new position in shares of American Superconductor during the 1st quarter worth about $4,397,000. Millennium Management LLC increased its stake in shares of American Superconductor by 878.5% during the 1st quarter. Millennium Management LLC now owns 225,682 shares of the technology company’s stock worth $4,094,000 after purchasing an additional 202,617 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of American Superconductor by 54.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 481,961 shares of the technology company’s stock worth $8,743,000 after purchasing an additional 170,243 shares during the last quarter. 52.28% of the stock is currently owned by institutional investors and hedge funds.

American Superconductor Stock Performance

Shares of AMSC stock opened at $58.92 on Friday. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 151.08 and a beta of 3.00. The company has a 50-day simple moving average of $57.10 and a 200 day simple moving average of $42.00. American Superconductor Corporation has a 52 week low of $13.98 and a 52 week high of $70.49.

American Superconductor (NASDAQ:AMSC) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $72.36 million during the quarter, compared to the consensus estimate of $64.97 million. American Superconductor had a net margin of 6.00% and a return on equity of 9.35%. The business’s revenue was up 79.6% compared to the same quarter last year. Sell-side analysts forecast that American Superconductor Corporation will post 0.41 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Oppenheimer restated an “outperform” rating on shares of American Superconductor in a research note on Thursday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of American Superconductor in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of American Superconductor from a “hold” rating to a “buy” rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, American Superconductor currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Insider Activity

In other American Superconductor news, CEO Daniel P. Mcgahn sold 100,848 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $54.49, for a total value of $5,495,207.52. Following the completion of the sale, the chief executive officer owned 1,183,134 shares of the company’s stock, valued at $64,468,971.66. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arthur H. House sold 9,703 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $50.92, for a total transaction of $494,076.76. Following the completion of the sale, the director directly owned 48,663 shares of the company’s stock, valued at $2,477,919.96. This represents a 16.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.80% of the company’s stock.

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.