Will A123 Systems’s Top Institutional Shareholders DUMP Shares After a Widening Loss?
Year-to-date, A123 Systems, Inc.’s (NASDAQ:AONE) shares are down 68.94 percent. On Wednesday, the company reported its loss widened to $82.9 million (56 cents per diluted share), up from last year’s loss of $55.4 million (loss of 44 cents per share). Revenue declined 53.3 percent to $17 million from the previous year.
The numbers missed analysts’ estimates of a 39 cents per share loss on $18.4 million in revenues.
David Vieau, CEO of A123 Systems said of the quarter, “A123 reported second quarter revenue of $17 million as we balanced manufacturing new products for customers with producing prismatic packs for our ongoing field campaign. Since the end of the second quarter, we have also taken steps toward securing A123′s financial stability. We have signed a non-binding memorandum of understanding with Wanxiang Group Corporation establishing the framework for a strategic agreement through which Wanxiang would invest up to $450 million in A123.”
With the weak second quarter earnings report, will A123 System’s largest shareholders decrease their holdings? 36 institutional firms indicated owning shares of A123 Systems, Inc. (NASDAQ:AONE) in Q2 2012. These firms reported owning a total of 72.33 million shares on 06/30/2012. The shares closed at $1.26 on 06/30/2012.
Here are the ten largest positions in A123 Systems, Inc. at the end of June 30th, 2012.
Alliancebernstein L.P. held 20,000,000 shares on 06/30/2012 worth $5,150.
Wolverine Asset Management LLC held 15,600,000 shares on 06/30/2012 worth $3,973,000. This brought the portfolio total to 0.09%.
Alliancebernstein L.P. held 14,534,758 shares on 06/30/2012 worth $18,313,795. This brought the portfolio total to 0.02%.
Zazove Associates LLC held 9,200,000 shares on 06/30/2012 worth $2,501,000. This brought the portfolio total to 0.07%.
General Electric Co held 7,372,744 shares on 06/30/2012 worth $9,289,657. This brought the portfolio total to 0.04%.
Global X Management Co LLC held 3,844,640 shares on 06/30/2012 worth $4,844,246. This brought the portfolio total to 1.02%.
Bank of New York Mellon Corp held 611,676 shares on 06/30/2012 worth $770,712.
Schwab Charles Investment Management Inc held 285,983 shares on 06/30/2012 worth $360,339.
California State Teachers Retirement System held 191,197 shares on 06/30/2012 worth $240,908.
Condor Capital Management held 156,672 shares on 06/30/2012 worth $197,407. This brought the portfolio total to 0.09%.
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