Zacks Investment Research cut shares of American Superconductor (NASDAQ:AMSC) from a strong-buy rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.

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. “

AMSC has been the topic of a number of other research reports. BidaskClub lowered American Superconductor from a buy rating to a hold rating in a report on Wednesday, March 27th. B. Riley raised their target price on American Superconductor to $11.00 and gave the company a neutral rating in a report on Friday, January 25th. Finally, Oppenheimer raised their target price on American Superconductor from $10.00 to $16.00 and gave the company an outperform rating in a report on Thursday, February 7th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. American Superconductor has a consensus rating of Buy and an average target price of $14.20.

NASDAQ AMSC opened at $12.60 on Tuesday. American Superconductor has a one year low of $4.84 and a one year high of $16.44. The company has a market cap of $276.10 million, a P/E ratio of -6.85 and a beta of 1.13.

American Superconductor (NASDAQ:AMSC) last released its earnings results on Tuesday, February 5th. The technology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.18. American Superconductor had a negative return on equity of 25.54% and a net margin of 52.83%. The business had revenue of $14.13 million during the quarter, compared to analysts’ expectations of $15.13 million. Analysts forecast that American Superconductor will post -0.8 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of AMSC. D. E. Shaw & Co. Inc. lifted its holdings in American Superconductor by 231.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 261,852 shares of the technology company’s stock worth $2,919,000 after acquiring an additional 182,795 shares during the period. Royce & Associates LP lifted its holdings in American Superconductor by 25.5% during the fourth quarter. Royce & Associates LP now owns 571,874 shares of the technology company’s stock worth $6,376,000 after acquiring an additional 116,374 shares during the period. Worth Venture Partners LLC bought a new stake in American Superconductor during the third quarter worth $660,000. Bank of New York Mellon Corp lifted its holdings in American Superconductor by 268.5% during the fourth quarter. Bank of New York Mellon Corp now owns 112,802 shares of the technology company’s stock worth $1,257,000 after acquiring an additional 82,192 shares during the period. Finally, Tibra Equities Europe Ltd bought a new stake in American Superconductor during the first quarter worth $541,000. Institutional investors own 29.22% of the company’s stock.

American Superconductor Company Profile

American Superconductor Corporation provides megawatt-scale solutions worldwide. The company operates in two segments, Wind and Grid. The Wind segment designs wind turbine systems and licenses these designs to third parties under the Windtec Solutions brand. It supplies power electronics and software-based control systems, and provides customer support services to wind turbine manufacturers.

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