American Superconductor Corporation (NASDAQ:AMSC) issued its quarterly earnings data on Tuesday. The technology company reported ($0.97) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.09, Morningstar.com reports. American Superconductor Corporation had a negative net margin of 36.40% and a negative return on equity of 42.53%. The firm had revenue of $8.92 million for the quarter, compared to analyst estimates of $8.46 million. During the same period in the prior year, the business posted ($0.64) EPS. The business’s revenue for the quarter was down 33.2% compared to the same quarter last year.
Shares of American Superconductor Corporation (NASDAQ AMSC) opened at 2.97 on Wednesday. American Superconductor Corporation has a 12-month low of $2.89 and a 12-month high of $9.38. The firm’s market capitalization is $55.22 million. The firm’s 50-day moving average is $4.11 and its 200-day moving average is $5.47.
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A number of hedge funds have recently bought and sold shares of AMSC. Royce & Associates LP boosted its stake in American Superconductor Corporation by 114.3% in the second quarter. Royce & Associates LP now owns 369,300 shares of the technology company’s stock valued at $1,706,000 after buying an additional 197,000 shares in the last quarter. LMR Partners LLP bought a new stake in American Superconductor Corporation during the second quarter valued at about $169,000. Prescott Group Capital Management L.L.C. bought a new stake in American Superconductor Corporation during the second quarter valued at about $1,120,000. PEAK6 Investments L.P. bought a new stake in American Superconductor Corporation during the first quarter valued at about $612,000. Finally, Renaissance Technologies LLC boosted its stake in American Superconductor Corporation by 7.9% in the first quarter. Renaissance Technologies LLC now owns 459,588 shares of the technology company’s stock valued at $3,153,000 after buying an additional 33,700 shares in the last quarter. 31.21% of the stock is currently owned by hedge funds and other institutional investors.
AMSC has been the topic of several recent analyst reports. FBR & Co restated a “buy” rating and issued a $9.00 price objective on shares of American Superconductor Corporation in a report on Friday, May 26th. Cowen and Company restated an “outperform” rating and issued a $8.00 price objective (down from $10.50) on shares of American Superconductor Corporation in a report on Friday, April 28th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of American Superconductor Corporation in a report on Monday, May 29th. Rodman & Renshaw reiterated a “buy” rating and set a $7.50 target price (down from $10.00) on shares of American Superconductor Corporation in a report on Friday, April 28th. Finally, Zacks Investment Research lowered shares of American Superconductor Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. American Superconductor Corporation presently has a consensus rating of “Hold” and a consensus price target of $7.71.
American Superconductor Corporation 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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