Precision Wealth Strategies LLC Purchases New Shares in American Superconductor Co. (NASDAQ:AMSC)

Precision Wealth Strategies LLC purchased a new stake in shares of American Superconductor Co. (NASDAQ:AMSC) in the third quarter, HoldingsChannel.com reports. The firm purchased 12,733 shares of the technology company’s stock, valued at approximately $300,000.

A number of other large investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in American Superconductor by 2.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 39,146 shares of the technology company’s stock valued at $916,000 after purchasing an additional 828 shares in the last quarter. Amalgamated Bank acquired a new stake in American Superconductor during the 2nd quarter valued at $28,000. nVerses Capital LLC acquired a new position in American Superconductor during the 2nd quarter worth $42,000. CWM LLC acquired a new position in American Superconductor during the 3rd quarter worth $57,000. Finally, Canada Pension Plan Investment Board acquired a new position in American Superconductor during the 2nd quarter worth $96,000. 52.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMSC shares. Craig Hallum reissued a “buy” rating and set a $33.00 price objective on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm restated a “buy” rating and issued a $29.00 price target on shares of American Superconductor in a research report on Monday, September 30th.

American Superconductor Stock Down 4.3 %

Shares of NASDAQ:AMSC opened at $23.85 on Tuesday. The company has a market cap of $882.40 million, a PE ratio of -61.15 and a beta of 2.14. The company’s 50-day moving average price is $21.83 and its 200 day moving average price is $20.44. American Superconductor Co. has a fifty-two week low of $5.78 and a fifty-two week high of $32.70.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.09. The firm had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.55 million. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. As a group, equities analysts anticipate that American Superconductor Co. will post 0.17 EPS for the current year.

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.