American Superconductor Corporation (AMSC) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of American Superconductor Corporation (NASDAQ:AMSC) from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $5.25 price target on the technology company’s stock.
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. “
Several other equities analysts also recently issued reports on the company. FBR & Co reiterated a hold rating and issued a $6.00 price objective on shares of American Superconductor Corporation in a research report on Wednesday, September 27th. Cowen and Company reiterated a buy rating and issued a $6.00 price objective (down previously from $7.50) on shares of American Superconductor Corporation in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $7.04.
American Superconductor Corporation (NASDAQ:AMSC) opened at 4.58 on Tuesday. The firm’s market capitalization is $87.91 million. The stock’s 50 day moving average price is $4.17 and its 200-day moving average price is $4.57. American Superconductor Corporation has a one year low of $2.89 and a one year high of $8.55.
American Superconductor Corporation (NASDAQ:AMSC) last issued its quarterly earnings data on Tuesday, August 8th. The technology company reported ($0.97) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.06) by $0.09. American Superconductor Corporation had a negative return on equity of 54.39% and a negative net margin of 45.60%. The firm had revenue of $8.92 million during the quarter, compared to the consensus estimate of $8.46 million. During the same quarter in the previous year, the company posted ($0.64) EPS. The business’s revenue for the quarter was down 33.2% compared to the same quarter last year. On average, equities research analysts anticipate that American Superconductor Corporation will post ($2.24) earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. LMR Partners LLP bought a new stake in shares of American Superconductor Corporation during the second quarter worth $169,000. Dimensional Fund Advisors LP raised its position in shares of American Superconductor Corporation by 7.5% during the second quarter. Dimensional Fund Advisors LP now owns 37,496 shares of the technology company’s stock worth $173,000 after acquiring an additional 2,600 shares during the last quarter. GMT Capital Corp bought a new stake in shares of American Superconductor Corporation during the first quarter worth $213,000. Bank of New York Mellon Corp raised its position in shares of American Superconductor Corporation by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 83,720 shares of the technology company’s stock worth $575,000 after acquiring an additional 1,635 shares during the last quarter. Finally, PEAK6 Investments L.P. bought a new stake in shares of American Superconductor Corporation during the first quarter worth $612,000. Institutional investors own 42.43% of the company’s stock.
About American Superconductor Corporation
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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