American Superconductor Corp. Coverage Initiated at Ascendiant Capital Markets (AMSC)
Ascendiant Capital Markets began coverage on shares of American Superconductor Corp. (NASDAQ: AMSC) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $3.25 price target on the stock. Ascendiant Capital Markets’ target price would suggest a potential upside of 38.89% from the stock’s previous close.
The analysts wrote, “We are initiating coverage with a BUY and $3.25 target. AMSC is a leading provider of proprietary wind turbine design technology, power electronics and smart grid infrastructure solutions. AMSC does not build wind turbines; it designs them. Its Windtec subsidiary boasts a complete turnkey wind solution that others find difficult to match. Customer agreements lead to captive sales of proprietary electronic control systems, for which we expect lumpy but increasing unit volume growth over the next several years.”
Shares of American Superconductor Corp. (NASDAQ: AMSC) traded up 8.16% during mid-day trading on Friday, hitting $2.531. American Superconductor Corp. has a one year low of $2.30 and a one year high of $4.96. The stock’s 50-day moving average is currently $2.58. The company’s market cap is $153.0 million.
American Superconductor Corp. (NASDAQ: AMSC) last released its earnings data on Friday, June 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). The company had revenue of $20.40 million for the quarter, compared to the consensus estimate of $18.80 million. During the same quarter in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was down 28.7% on a year-over-year basis. Analysts expect that American Superconductor Corp. will post $-0.69 EPS for the current fiscal year.
American Superconductor Corporation (NASDAQ: AMSC) is a provider of megawatt-scale solutions for wind power.
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