American Superconductor Corp. (AMSC) Shares Up 6.8%
American Superconductor Corp. (NASDAQ:AMSC)’s share price shot up 6.8% during mid-day trading on Monday . The stock traded as high as $9.48 and last traded at $9.30, with a volume of 141,082 shares trading hands. The stock had previously closed at $8.71.
Several equities analysts have recently weighed in on the company. FBR & Co assumed coverage on American Superconductor Corp. in a report on Thursday, May 19th. They set an “outperform” rating and a $14.00 price target on the stock. Oppenheimer Holdings Inc. assumed coverage on American Superconductor Corp. in a report on Monday, June 20th. They set an “outperform” rating and a $12.00 price target on the stock. Zacks Investment Research cut American Superconductor Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 12th. Finally, Rodman & Renshaw reissued a “neutral” rating on shares of American Superconductor Corp. in a report on Friday, April 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $11.00.
The company has a 50 day moving average of $8.86 and a 200-day moving average of $8.04. The company’s market capitalization is $133.57 million.
American Superconductor Corp. (NASDAQ:AMSC) last released its quarterly earnings results on Tuesday, May 31st. The company reported ($0.28) earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm posted ($0.69) earnings per share. American Superconductor Corp.’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that American Superconductor Corp. will post ($1.97) earnings per share for the current fiscal year.
In other American Superconductor Corp. news, EVP James F. Maguire sold 29,938 shares of American Superconductor Corp. stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $10.15, for a total value of $303,870.70. Following the transaction, the executive vice president now directly owns 45,266 shares of the company’s stock, valued at $459,449.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David A. Henry sold 13,225 shares of American Superconductor Corp. stock in a transaction on Monday, June 20th. The stock was 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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