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At the end of a week when American Superconductor Corp. (Nasdaq: AMSC) reported annual and quarterly losses enroute to what it says will be a “better AMSC,” the company’s largest investor bought up almost a million shares.
In a filing with the U.S. Securities and Exchange Commission, the company reported Monday that Kevin Douglas of Larkspur, Calif., along with family members and family trusts, acquired 938,000 addition shares at prices ranging from $4.32 to $4.36 on Thursday and Friday of last week.
Devens-based AMSC manufactures components and wiring for clean energy systems, and has been involved in a legal dispute with Chinese wind developer Sinovel Wind Group Co. Ltd. over contracted but unpaid product orders and alleged corporate espionage by Sinovel.
The purchase by Douglas, founder and chairman of California-based Douglas Communications Inc., came just six months after Douglas reported acquisition of 3 million AMSC shares for $42.8 million. The latest purchase may bring Douglas’ holdings to more than 12 million shares or just over 23 percent of AMSC’s stock.
As of 3:10 pm Tuesday, AMSC shares were trading at $3.40, down 0.44 percent.
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