American Superconductor (NASDAQ:AMSC) Upgraded by Zacks Investment Research to “Hold”
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 have also recently commented on AMSC. ValuEngine cut Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. BidaskClub cut American Superconductor from a hold rating to a sell rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $14.20.
American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings results on Wednesday, June 5th. The technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The firm had revenue of $14.59 million during the quarter, compared to analyst estimates of $14.85 million. American Superconductor had a net margin of 47.61% and a negative return on equity of 22.58%. During the same period last year, the company earned ($0.25) EPS. Analysts forecast that American Superconductor will post -1.06 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Psagot Investment House Ltd. grew its stake in shares of American Superconductor by 413.6% in the 1st quarter. Psagot Investment House Ltd. now owns 2,008 shares of the technology company’s stock valued at $26,000 after purchasing an additional 1,617 shares during the period. Alps Advisors Inc. bought a new stake in shares of American Superconductor in the 1st quarter valued at approximately $171,000. WINTON GROUP Ltd bought a new stake in shares of American Superconductor in the 2nd quarter valued at approximately $175,000. Raymond James & Associates grew its stake in shares of American Superconductor by 28.7% in the 4th quarter. Raymond James & Associates now owns 19,333 shares of the technology company’s stock valued at $216,000 after purchasing an additional 4,311 shares during the period. Finally, Cookson Peirce & Co. Inc. grew its stake in shares of American Superconductor by 9.9% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 37,270 shares of the technology company’s stock valued at $479,000 after purchasing an additional 3,350 shares during the period. 42.49% of the stock is owned by hedge funds and other institutional investors.
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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