Superconductor Technologies Inc. (SCON) Stock Price Down 7.7%
Superconductor Technologies Inc. (NASDAQ:SCON) shares were down 7.7% during trading on Wednesday . The company traded as low as $3.33 and last traded at $3.35, with a volume of 192,963 shares trading hands. The stock had previously closed at $3.63.
A number of research analysts have commented on SCON shares. Rodman & Renshaw started coverage on Superconductor Technologies in a research report on Wednesday, March 30th. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded Superconductor Technologies from a “hold” rating to a “buy” rating and set a $0.25 price objective on the stock in a research report on Tuesday, May 31st. Finally, HC Wainwright reiterated a “neutral” rating on shares of Superconductor Technologies in a research report on Wednesday, March 30th.
The company’s market cap is $8.07 million. The firm’s 50-day moving average price is $3.20 and its 200-day moving average price is $3.08.
Superconductor Technologies (NASDAQ:SCON) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. The business earned $0.09 million during the quarter, compared to analyst estimates of $0.06 million. On average, analysts forecast that Superconductor Technologies Inc. will post ($2.40) earnings per share for the current year.
In other news, major shareholder Leroy C. Kopp acquired 300,000 shares of the stock in a transaction on Monday, May 23rd. The stock was acquired at an average cost of $0.25 per share, for a total transaction of $75,000.00. Following the completion of the transaction, the insider now directly owns 2,085,290 shares in the company, valued at $521,322.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Superconductor Technologies Inc is focused on developing and commercializing high temperature superconductor (HTS) materials and related technologies. The Company is engaged in research, development, manufacture and marketing of high performance products used in cellular base stations. The Company’s products include AmpLink and SuperPlex, which are sold to wireless network operators in the United States.
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