American Superconductor (AMSC) Downgraded to “Hold” at Zacks Investment Research
American Superconductor (NASDAQ:AMSC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “American Superconductor Corporation is a leading energy technologies company. The company develops and sells a wide range of products and solutions based on power electronic systems and high temperature superconductor wires that dramatically improve the efficiency, reliability and quality of electricity during its generation, transmission, distribution and use. The company is a dominant force in alternative energy, offering grid interconnection solutions as well as licensed wind energy designs and electrical systems. As the world’s principal supplier of HTS wire, AMSC is enabling a new generation of compact, high-power electrical products, including power cables, grid-level surge protectors, motors, generators, and advanced transportation and defense systems. AMSC also provides utility and industrial customers worldwide with voltage regulation systems that dramatically enhance power grid capacity, reliability and security, as well as industrial productivity. “
Separately, FBR & Co restated a “hold” rating and issued a $6.00 price objective on shares of American Superconductor in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $6.82.
Shares of American Superconductor (NASDAQ AMSC) traded up $0.39 during midday trading on Tuesday, reaching $4.89. 1,484,400 shares of the company’s stock traded hands, compared to its average volume of 447,060. American Superconductor has a 1-year low of $2.89 and a 1-year high of $7.82. The company has a market cap of $95.97, a price-to-earnings ratio of -2.46 and a beta of 0.90.
American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings data on Tuesday, November 7th. The technology company reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.25. American Superconductor had a negative net margin of 50.90% and a negative return on equity of 58.10%. The business had revenue of $11.05 million during the quarter, compared to analyst estimates of $10.93 million. During the same period in the prior year, the business earned ($0.60) EPS. The company’s revenue for the quarter was down 40.3% on a year-over-year basis. analysts predict that American Superconductor will post -2.08 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of AMSC. GMT Capital Corp bought a new position in shares of American Superconductor in the 3rd quarter worth about $141,000. Dimensional Fund Advisors LP grew its position in American Superconductor by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 37,496 shares of the technology company’s stock valued at $173,000 after purchasing an additional 2,600 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in American Superconductor during the 3rd quarter valued at about $210,000. Manatuck Hill Partners LLC purchased a new stake in American Superconductor during the 2nd quarter valued at about $1,617,000. Finally, Royce & Associates LP grew its position in American Superconductor by 114.3% during the 2nd quarter. Royce & Associates LP now owns 369,300 shares of the technology company’s stock valued at $1,706,000 after purchasing an additional 197,000 shares during the last quarter. Institutional investors own 28.51% of the company’s stock.
About American Superconductor
American Superconductor Corporation (AMSC) is a provider of megawatt-scale solutions. The Company operates through two segments: Wind and Grid. Through the Company’s Windtec Solutions brand, the Wind business segment enables manufacturers to field wind turbines. Through the Company’s Gridtec Solutions, the Grid business segment enables electric utilities and renewable energy project developers to connect, transmit and distribute power.
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