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Equities research analysts at Singular Research initiated coverage on shares of American Electric Technologies (NASDAQ:AETI) in a research note issued to investors on Thursday. The firm set a “buy” rating and a $8.40 price target on the stock. Singular Research’s price objective would indicate a potential upside of 24.44% from the stock’s previous close.

Shares of American Electric Technologies (NASDAQ:AETI) traded up 1.92% during mid-day trading on Thursday, hitting $6.8795. 1,524 shares of the company’s stock traded hands. American Electric Technologies has a 1-year low of $5.67 and a 1-year high of $11.21. The stock has a 50-day moving average of $6.75 and a 200-day moving average of $6.90. The company has a market cap of $56.3 million and a price-to-earnings ratio of 93.75.

American Electric Technologies (NASDAQ:AETI) last issued its earnings data on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $13.40 million for the quarter, compared to the consensus estimate of $13.50 million. On average, analysts predict that American Electric Technologies will post $0.46 earnings per share for the current fiscal year.

American Electric Technologies, Inc (NASDAQ:AETI) is a global provider of power delivery solutions to the renewable energy industries.

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