American Superconductor (NASDAQ:AMSC) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of American Superconductor (NASDAQ:AMSC) from a buy rating to a hold rating in a research note released on Tuesday, January 9th.

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. “

Separately, FBR & Co reissued a hold rating and set a $6.00 target price on shares of American Superconductor in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $6.82.

American Superconductor (AMSC) traded down $0.29 during midday trading on Tuesday, hitting $5.20. 235,187 shares of the company traded hands, compared to its average volume of 398,900. The firm has a market cap of $97.89, a price-to-earnings ratio of -2.61 and a beta of 0.90. American Superconductor has a twelve month low of $2.89 and a twelve month high of $7.82.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings data on Tuesday, November 7th. The technology company reported ($0.44) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.25. The business had revenue of $11.05 million during the quarter, compared to the consensus estimate of $10.93 million. American Superconductor had a negative net margin of 65.90% and a negative return on equity of 47.12%. The firm’s revenue was down 40.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.60) EPS. equities research analysts forecast that American Superconductor will post -2.08 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. GMT Capital Corp acquired a new position in shares of American Superconductor during the third quarter valued at about $141,000. Dimensional Fund Advisors LP grew its holdings in shares of American Superconductor by 7.5% during the second quarter. Dimensional Fund Advisors LP now owns 37,496 shares of the technology company’s stock valued at $173,000 after buying an additional 2,600 shares during the last quarter. Wedbush Securities Inc. acquired a new position in shares of American Superconductor during the third quarter valued at about $210,000. Manatuck Hill Partners LLC acquired a new position in shares of American Superconductor during the second quarter valued at about $1,617,000. Finally, Royce & Associates LP lifted its position in shares of American Superconductor by 114.3% during the second quarter. Royce & Associates LP now owns 369,300 shares of the technology company’s stock valued at $1,706,000 after purchasing an additional 197,000 shares in the last quarter. Institutional investors and hedge funds own 28.51% of the company’s stock.

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American Superconductor Company Profile

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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