American Superconductor (NASDAQ:AMSC) Issues Earnings Results

American Superconductor (NASDAQ:AMSC) released its quarterly earnings data on Wednesday. The technology company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $0.14 by $2.61, FiscalAI reports. The company had revenue of $74.53 million for the quarter, compared to analyst estimates of $69.03 million. American Superconductor had a net margin of 5.69% and a return on equity of 6.48%.

American Superconductor Trading Down 8.0%

NASDAQ AMSC traded down $2.41 during midday trading on Wednesday, hitting $27.60. The company had a trading volume of 1,531,033 shares, compared to its average volume of 856,296. The firm has a 50-day moving average price of $31.21 and a 200-day moving average price of $44.44. The company has a market capitalization of $1.25 billion, a PE ratio of 74.58 and a beta of 2.98. American Superconductor has a twelve month low of $13.98 and a twelve month high of $70.49.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Oppenheimer reiterated an “outperform” rating on shares of American Superconductor in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Superconductor in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of American Superconductor from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, American Superconductor has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Institutional Investors Weigh In On American Superconductor

A number of large investors have recently modified their holdings of AMSC. Mariner LLC lifted its position in shares of American Superconductor by 7.6% during the 3rd quarter. Mariner LLC now owns 13,227 shares of the technology company’s stock worth $786,000 after buying an additional 932 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in American Superconductor by 100.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,000 shares of the technology company’s stock valued at $73,000 after purchasing an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of American Superconductor by 10.1% during the second quarter. The Manufacturers Life Insurance Company now owns 13,705 shares of the technology company’s stock worth $503,000 after buying an additional 1,259 shares during the last quarter. Swiss National Bank grew its stake in shares of American Superconductor by 1.6% during the third quarter. Swiss National Bank now owns 84,600 shares of the technology company’s stock worth $5,024,000 after buying an additional 1,300 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of American Superconductor by 24.0% during the third quarter. Creative Planning now owns 7,044 shares of the technology company’s stock worth $418,000 after buying an additional 1,363 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company’s stock.

About American Superconductor

American Superconductor Corporation (NASDAQ:AMSC) is a technology company specializing in power electronics and high-temperature superconductor systems. Founded in 1987 and headquartered in Devens, Massachusetts, AMSC develops hardware and software solutions aimed at improving the efficiency, reliability and stability of electric power systems and renewable energy infrastructure. The company’s engineering expertise spans from the lab scale to full commercial deployment, with a focus on tackling grid integration challenges for utilities and independent power producers.

AMSC’s portfolio includes superconducting wire and cryogenic systems, power grid stabilization devices, and turnkey wind turbine electronics.