American Superconductor Corp. (AMSC) Now Covered by Roth Capital
Equities researchers at Roth Capital initiated coverage on shares of American Superconductor Corp. (NASDAQ:AMSC) in a research note issued on Monday. The brokerage set a “buy” rating and a $10.00 price target on the stock. Roth Capital’s target price points to a potential upside of 35.87% from the stock’s previous close.
Several other equities research analysts have also weighed in on AMSC. Oppenheimer Holdings Inc. started coverage on American Superconductor Corp. in a report on Monday, June 20th. They issued an “outperform” rating and a $12.00 target price for the company. Zacks Investment Research lowered American Superconductor Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Finally, FBR & Co reduced their target price on American Superconductor Corp. from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $10.33.
American Superconductor Corp. (NASDAQ:AMSC) traded up 5.75% during midday trading on Monday, reaching $7.36. The company’s stock had a trading volume of 58,160 shares. The firm has a 50 day moving average price of $6.97 and a 200 day moving average price of $8.43. American Superconductor Corp. has a 1-year low of $3.81 and a 1-year high of $12.50. The firm’s market capitalization is $104.42 million.
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American Superconductor Corp. (NASDAQ:AMSC) last posted its earnings results on Tuesday, August 9th. The company reported ($0.64) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.92) by $0.28. American Superconductor Corp. had a negative return on equity of 30.24% and a negative net margin of 28.46%. The firm earned $13.30 million during the quarter, compared to analyst estimates of $13.39 million. During the same period in the previous year, the company earned ($0.72) EPS. The company’s revenue for the quarter was down 43.9% on a year-over-year basis. On average, analysts predict that American Superconductor Corp. will post ($2.32) EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of AMSC. BlackRock Fund Advisors raised its position in shares of American Superconductor Corp. by 905.8% in the second quarter. BlackRock Fund Advisors now owns 304,358 shares of the company’s stock worth $2,569,000 after buying an additional 274,099 shares during the period. State Street Corp acquired a new position in shares of American Superconductor Corp. during the second quarter worth approximately $1,159,000. EAM Investors LLC acquired a new position in shares of American Superconductor Corp. during the second quarter worth approximately $894,000. BlackRock Institutional Trust Company N.A. raised its position in shares of American Superconductor Corp. by 45.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 277,078 shares of the company’s stock worth $2,339,000 after buying an additional 86,292 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new position in shares of American Superconductor Corp. during the second quarter worth approximately $435,000. Institutional investors own 30.28% of the company’s stock.
American Superconductor Corp. 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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