Roth Mkm Reaffirms “Buy” Rating for American Superconductor (NASDAQ:AMSC)

Roth Mkm reiterated their buy rating on shares of American Superconductor (NASDAQ:AMSC) in a report issued on Monday, Benzinga reports. They currently have a $29.00 price target on the technology company’s stock.

Separately, Craig Hallum reissued a buy rating and issued a $33.00 price objective on shares of American Superconductor in a research note on Tuesday, September 10th.

American Superconductor Trading Down 1.7 %

NASDAQ AMSC opened at $21.51 on Monday. American Superconductor has a 1-year low of $5.78 and a 1-year high of $32.70. The company has a market cap of $795.83 million, a price-to-earnings ratio of -55.15 and a beta of 2.13. The company has a 50 day moving average of $21.32 and a 200-day moving average of $19.45.

American Superconductor (NASDAQ:AMSC) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. The firm had revenue of $40.29 million for the quarter, compared to analysts’ expectations of $39.55 million. On average, equities research analysts forecast that American Superconductor will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On American Superconductor

Several institutional investors have recently made changes to their positions in AMSC. GoalVest Advisory LLC acquired a new position in shares of American Superconductor during the first quarter valued at about $404,000. Cannon Global Investment Management LLC acquired a new position in shares of American Superconductor during the first quarter valued at about $345,000. Baillie Gifford & Co. raised its holdings in shares of American Superconductor by 21.1% during the first quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after purchasing an additional 440,271 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of American Superconductor during the first quarter valued at about $1,419,000. Finally, ClariVest Asset Management LLC acquired a new position in shares of American Superconductor during the first quarter valued at about $1,179,000. Institutional investors and hedge funds own 52.28% of the company’s stock.

About American Superconductor

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand; and engineering planning services.