American Superconductor Corp. (AMSC) Shares Down 3.3%
Shares of American Superconductor Corp. (NASDAQ:AMSC) dropped 3.3% during mid-day trading on Wednesday . The stock traded as low as $9.10 and last traded at $9.20, with a volume of 60,399 shares changing hands. The stock had previously closed at $9.51.
AMSC has been the topic of several recent research reports. FBR & Co reissued a “buy” rating and issued a $14.00 price target on shares of American Superconductor Corp. in a research note on Thursday, June 2nd. Rodman & Renshaw restated a “neutral” rating on shares of American Superconductor Corp. in a report on Friday, April 1st. Zacks Investment Research cut American Superconductor Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 12th. Finally, Oppenheimer Holdings Inc. assumed coverage on American Superconductor Corp. in a report on Monday, June 20th. They issued an “outperform” rating and a $12.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. American Superconductor Corp. currently has an average rating of “Buy” and a consensus target price of $11.00.
The company has a 50-day moving average price of $8.82 and a 200-day moving average price of $8.04. The firm’s market capitalization is $130.34 million.
American Superconductor Corp. (NASDAQ:AMSC) last posted its quarterly earnings data on Tuesday, May 31st. The company reported ($0.28) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.32. The firm earned $27.50 million during the quarter, compared to analysts’ expectations of $20.16 million. During the same quarter last year, the business posted ($0.69) EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts forecast that American Superconductor Corp. will post ($1.97) EPS for the current fiscal year.
In other news, EVP James F. Maguire sold 29,938 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $10.15, for a total transaction of $303,870.70. Following the completion of the transaction, the executive vice president now directly owns 45,266 shares of the company’s stock, valued at approximately $459,449.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David A. Henry sold 13,225 shares of the stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $8.38, for a total transaction of $110,825.50. The disclosure for this sale can be found here.
American Superconductor Corporation (AMSC) is a provider of megawatt-scale solutions. The Company conducts its business through two segments: Wind and Grid. Through its Windtec Solutions brand, the Wind business segment enables manufacturers to field wind turbines. Through the Gridtec Solutions brand, the Grid business segment enables electric utilities and renewable energy project developers to connect, transmit and distribute power.
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