American Superconductor (NASDAQ:AMSC) has received an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $7.14.
AMSC has been the topic of several recent research reports. ValuEngine cut American Superconductor from a “sell” rating to a “strong sell” rating in a research report on Monday, April 2nd. B. Riley restated a “hold” rating and issued a $6.00 target price on shares of American Superconductor in a research note on Thursday, January 25th. Finally, Zacks Investment Research lowered American Superconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th.
AMSC stock traded down $0.19 during midday trading on Friday, reaching $6.32. 105,958 shares of the company traded hands, compared to its average volume of 242,616. American Superconductor has a 52-week low of $2.89 and a 52-week high of $7.75. The company has a market cap of $133.37, a PE ratio of -2.99 and a beta of 1.15.
American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results on Monday, February 5th. The technology company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.17. American Superconductor had a negative return on equity of 60.92% and a negative net margin of 65.96%. The firm had revenue of $14.90 million for the quarter, compared to the consensus estimate of $17.19 million. During the same period in the prior year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was down 45.0% on a year-over-year basis. equities research analysts expect that American Superconductor will post -1.89 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in shares of American Superconductor during the fourth quarter worth $120,000. Wedbush Securities Inc. raised its holdings in shares of American Superconductor by 24.8% in the fourth quarter. Wedbush Securities Inc. now owns 57,660 shares of the technology company’s stock valued at $209,000 after buying an additional 11,453 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of American Superconductor by 84.5% in the third quarter. Dimensional Fund Advisors LP now owns 69,175 shares of the technology company’s stock valued at $314,000 after buying an additional 31,679 shares during the last quarter. Anson Funds Management LP purchased a new stake in shares of American Superconductor in the fourth quarter valued at about $321,000. Finally, Wolverine Asset Management LLC raised its holdings in American Superconductor by 30.4% during the fourth quarter. Wolverine Asset Management LLC now owns 237,369 shares of the technology company’s stock worth $861,000 after purchasing an additional 55,375 shares in the last quarter. Hedge funds and other institutional investors own 25.37% of the company’s stock.
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About American Superconductor
American Superconductor Corporation provides megawatt-scale solutions worldwide. The company operates through two segments, Wind and Grid. The Wind segment designs wind turbine systems and licenses these designs to third parties under the Windtec Solutions brand. It supplies power electronics and software-based control systems, and provides customer support services to wind turbine manufacturers.
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