American Superconductor (NASDAQ:AMSC) Reaches New 1-Year Low on Disappointing Earnings

American Superconductor Corporation (NASDAQ:AMSC) shares reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $24.03 and last traded at $23.9930, with a volume of 332,367 shares changing hands. The stock had previously closed at $26.26.

The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). American Superconductor had a return on equity of 27.41% and a net margin of 42.56%. The business had revenue of $94.04 million for the quarter, compared to analyst estimates of $87.32 million. During the same period in the prior year, the company posted $0.20 EPS. The firm’s revenue for the quarter was up 42.8% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMSC. Weiss Ratings lowered American Superconductor from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Freedom Capital upgraded shares of American Superconductor to a “strong-buy” rating in a report on Tuesday, July 21st. Roth Capital reaffirmed a “buy” rating and issued a $55.00 target price (down from $58.00) on shares of American Superconductor in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of American Superconductor from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMSC. Fortitude Family Office LLC lifted its stake in American Superconductor by 624.3% in the third quarter. Fortitude Family Office LLC now owns 985 shares of the technology company’s stock valued at $29,000 after buying an additional 849 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of American Superconductor by 45.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,563 shares of the technology company’s stock valued at $45,000 after acquiring an additional 492 shares during the period. Nykredit A S purchased a new position in shares of American Superconductor during the second quarter worth approximately $46,000. Sterling Capital Management LLC grew its position in shares of American Superconductor by 850.9% during the third quarter. Sterling Capital Management LLC now owns 1,569 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,404 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of American Superconductor by 1,485.2% in the 3rd quarter. Parallel Advisors LLC now owns 2,140 shares of the technology company’s stock valued at $62,000 after acquiring an additional 2,005 shares during the period. Hedge funds and other institutional investors own 52.28% of the company’s stock.

American Superconductor Trading Down 8.2%

The business’s fifty day moving average price is $28.57 and its 200 day moving average price is $35.08. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 7.97 and a beta of 3.32.

About American Superconductor

American Superconductor Corporation (NASDAQ:AMSC) develops power-resiliency solutions that help electric utilities, industrial companies, renewable-energy developers and defense organizations improve the reliability, efficiency and performance of electrical systems. The company combines power electronics, software and engineering services to address challenges involving grid stability, power quality and renewable-energy integration.

AMSC’s Gridtec business offers solutions such as voltage-regulation and power-quality systems, grid interconnection technologies, and resilient-grid products designed to support electric transmission and distribution networks.