Cornerstone Investment Partners LLC has made a significant investment in American Superconductor Corporation (NASDAQ: AMSC), purchasing 6,667 shares valued at approximately $245,000. This acquisition, disclosed in the firm’s latest filing with the Securities and Exchange Commission, marks a strategic entry into the technology sector by the investment firm during the second quarter of 2023.
Several other institutional investors have also recently adjusted their positions in AMSC. Vanguard Group Inc. increased its holdings by 2.9% during the first quarter, now owning 2,287,585 shares worth $41.5 million after acquiring an additional 64,650 shares. Similarly, AWM Investment Company Inc. raised its stake by 3.0% in the same period, amassing 1,558,478 shares valued at $28.3 million. Royce & Associates LP also expanded its investment by 3.4%, holding 867,342 shares currently worth $15.7 million.
Additionally, Atreides Management LP entered the market with a new investment valued at $14.9 million, while Nuveen LLC purchased a new stake worth approximately $14.1 million. Collectively, these institutional investors own over 52.28% of the company’s stock, demonstrating substantial confidence in AMSC’s future.
Analysts Weigh In on AMSC’s Performance
Equities analysts have provided insights into AMSC’s stock performance. On October 8, 2023, Weiss Ratings reiterated a “hold (c)” rating on the shares. In contrast, Oppenheimer maintained an “outperform” rating, while Wall Street Zen upgraded the rating from “hold” to “buy” on July 15, 2023. Currently, there is a consensus rating of “Moderate Buy” among analysts, accompanied by a target price of $39.00.
Despite these positive ratings, AMSC has faced challenges in the market. As of the latest trading session, shares opened at $36.55, reflecting a decline of 38.5% over the past year. The company has a market capitalization of $1.65 billion, with a price-to-earnings ratio of 93.72 and a beta of 3.01. The stock has seen a 12-month low of $13.98 and a high of $70.49, indicating significant volatility.
Recent Financial Performance
AMSC’s latest quarterly earnings report, released on November 5, 2023, showed that the company earned $0.20 per share, surpassing analysts’ expectations of $0.15 by $0.05. The company reported revenues of $65.86 million, falling slightly short of the forecast of $67.23 million. AMSC’s net margin stands at 6.00%, with a return on equity of 9.35%. Year-over-year, revenue increased by 20.9%, although earnings per share dropped from $0.27 in the same quarter last year.
Looking ahead, AMSC has projected earnings guidance for the third quarter of 2025 at $0.140 per share. Analysts anticipate that the company will post earnings of $0.41 per share for the current fiscal year, reflecting cautious optimism about its growth trajectory.
American Superconductor Corporation specializes in providing megawatt-scale power resiliency solutions globally, operating through its Grid and Wind segments. The company offers products and services designed to assist electric utilities, industrial facilities, and renewable energy project developers in power connectivity, transmission, and distribution under its Gridtec Solutions brand.
For those interested in tracking additional institutional holdings in AMSC, insights are available through financial platforms such as HoldingsChannel.com.
