Zacks Investment Research Downgrades Superconductor Technologies (SCON) to Hold

Superconductor Technologies (NASDAQ:SCON) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Superconductor Technologies Inc. manufactures and markets high-performance filters to service providers and original equipment manufacturers in the mobile wireless telecommunications industry. The company’s product, the SuperFilter, combines high-temperature superconductors with cryogenic cooling technology to produce a filter with significant advantages over conventional filters. The company was engaged primarily in research and development and generated revenues primarily from government research contracts. “

Several other research firms also recently issued reports on SCON. HC Wainwright reissued a “buy” rating and issued a $3.00 price target on shares of Superconductor Technologies in a research report on Friday, November 10th. ValuEngine downgraded shares of Superconductor Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday.

Superconductor Technologies (NASDAQ SCON) traded up $0.06 during trading hours on Thursday, hitting $1.18. 326,099 shares of the stock traded hands, compared to its average volume of 226,300. The company has a market cap of $11.94, a price-to-earnings ratio of -0.88 and a beta of 1.04. Superconductor Technologies has a 12 month low of $0.88 and a 12 month high of $2.47.

Superconductor Technologies (NASDAQ:SCON) last released its quarterly earnings data on Thursday, November 9th. The semiconductor company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.02. The company had revenue of $0.13 million during the quarter, compared to analyst estimates of $0.10 million. Superconductor Technologies had a negative net margin of 6,897.30% and a negative return on equity of 97.45%. analysts forecast that Superconductor Technologies will post -0.84 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/01/04/zacks-investment-research-downgrades-superconductor-technologies-scon-to-hold.html.

Superconductor Technologies Company Profile

Superconductor Technologies Inc is engaged in developing and commercializing high temperature superconductor (HTS) materials and related technologies. The Company operates through the research, development, manufacture and marketing of high performance products used in cellular base stations segment.

Get a free copy of the Zacks research report on Superconductor Technologies (SCON)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Superconductor Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superconductor Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply