American Superconductor (NASDAQ:AMSC) had its price target raised by investment analysts at Craig Hallum to $15.00 in a report issued on Wednesday, The Fly reports. The firm presently has a “buy” rating on the technology company’s stock. Craig Hallum’s price target points to a potential upside of 59.74% from the company’s previous close.
Several other research analysts have also recently weighed in on AMSC. Zacks Investment Research raised shares of American Superconductor from a “hold” rating to a “strong-buy” rating and set a $7.00 price objective for the company in a report on Thursday, October 25th. ValuEngine raised shares of American Superconductor from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 1st.
Shares of NASDAQ AMSC traded up $1.85 during midday trading on Wednesday, hitting $9.39. The stock had a trading volume of 48,632 shares, compared to its average volume of 127,353. The company has a market cap of $166.64 million, a PE ratio of -5.05 and a beta of 1.33. American Superconductor has a 52 week low of $3.06 and a 52 week high of $8.18.
American Superconductor (NASDAQ:AMSC) last issued its earnings results on Tuesday, November 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.11. American Superconductor had a negative net margin of 42.74% and a negative return on equity of 41.86%. The firm had revenue of $14.88 million for the quarter, compared to the consensus estimate of $13.90 million. As a group, equities research analysts forecast that American Superconductor will post -0.93 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in shares of American Superconductor by 18.6% during the third quarter. First Trust Advisors LP now owns 110,716 shares of the technology company’s stock valued at $769,000 after purchasing an additional 17,344 shares during the last quarter. GMT Capital Corp purchased a new position in shares of American Superconductor during the second quarter valued at approximately $218,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of American Superconductor during the second quarter valued at approximately $186,000. Finally, Millennium Management LLC raised its holdings in shares of American Superconductor by 147.7% during the first quarter. Millennium Management LLC now owns 278,039 shares of the technology company’s stock valued at $1,618,000 after purchasing an additional 165,813 shares during the last quarter. 21.71% of the stock is owned by hedge funds and other institutional investors.
American Superconductor Company Profile
American Superconductor Corporation provides megawatt-scale solutions worldwide. The company operates in 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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