Equities analysts expect that American Superconductor Co. (NASDAQ:AMSC) will post $14.85 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for American Superconductor’s earnings, with the lowest sales estimate coming in at $14.60 million and the highest estimate coming in at $15.10 million. American Superconductor posted sales of $13.50 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The company is scheduled to announce its next quarterly earnings report on Wednesday, June 5th.
According to Zacks, analysts expect that American Superconductor will report full-year sales of $56.45 million for the current year, with estimates ranging from $56.20 million to $56.70 million. For the next year, analysts anticipate that the firm will post sales of $71.15 million, with estimates ranging from $67.70 million to $74.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover American Superconductor.
American Superconductor (NASDAQ:AMSC) last released its earnings results on Tuesday, February 5th. The technology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.18. American Superconductor had a net margin of 52.83% and a negative return on equity of 25.54%. The firm had revenue of $14.13 million for the quarter, compared to analyst estimates of $15.13 million.
AMSC has been the topic of several recent analyst reports. Zacks Investment Research raised shares of American Superconductor from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Monday, January 28th. BidaskClub downgraded shares of American Superconductor from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 16th. B. Riley boosted their price target on shares of American Superconductor to $11.00 and gave the stock a “neutral” rating in a research report on Friday, January 25th. Finally, Oppenheimer boosted their price target on shares of American Superconductor from $10.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, February 7th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.20.
AMSC stock traded down $0.47 during mid-day trading on Friday, hitting $12.26. The stock had a trading volume of 736,187 shares, compared to its average volume of 397,710. American Superconductor has a 52 week low of $4.84 and a 52 week high of $16.44. The firm has a market cap of $260.25 million, a P/E ratio of -6.67 and a beta of 1.12.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tibra Equities Europe Ltd bought a new stake in shares of American Superconductor in the 1st quarter valued at $541,000. Worth Venture Partners LLC increased its stake in shares of American Superconductor by 76.8% in the 4th quarter. Worth Venture Partners LLC now owns 168,000 shares of the technology company’s stock valued at $1,873,000 after acquiring an additional 73,000 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of American Superconductor by 231.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 261,852 shares of the technology company’s stock valued at $2,919,000 after acquiring an additional 182,795 shares in the last quarter. Royce & Associates LP increased its stake in shares of American Superconductor by 25.5% in the 4th quarter. Royce & Associates LP now owns 571,874 shares of the technology company’s stock valued at $6,376,000 after acquiring an additional 116,374 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of American Superconductor by 28.7% in the 4th quarter. Raymond James & Associates now owns 19,333 shares of the technology company’s stock valued at $216,000 after acquiring an additional 4,311 shares in the last quarter. Hedge funds and other institutional investors own 29.22% of the company’s stock.
About American Superconductor
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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