American Superconductor (NASDAQ:AMSC) Posts Quarterly Earnings Results, Beats Estimates By $2.61 EPS

American Superconductor (NASDAQ:AMSC) issued its quarterly earnings data on Wednesday. The technology company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $2.61, FiscalAI reports. The business had revenue of $74.53 million during the quarter, compared to analyst estimates of $69.03 million. American Superconductor had a net margin of 5.69% and a return on equity of 6.48%.

American Superconductor Price Performance

Shares of NASDAQ:AMSC traded down $2.41 during mid-day trading on Wednesday, hitting $27.60. The company had a trading volume of 1,531,033 shares, compared to its average volume of 856,296. American Superconductor has a one year low of $13.98 and a one year high of $70.49. The firm has a fifty day moving average price of $31.21 and a 200 day moving average price of $44.44. The company has a market capitalization of $1.25 billion, a PE ratio of 74.58 and a beta of 2.98.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AMSC shares. Oppenheimer restated an “outperform” rating on shares of American Superconductor in a report on Thursday, November 6th. Wall Street Zen lowered American Superconductor from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of American Superconductor in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, American Superconductor presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Institutional Trading of American Superconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its holdings in American Superconductor by 100.0% during the second quarter. Canada Pension Plan Investment Board now owns 2,000 shares of the technology company’s stock worth $73,000 after purchasing an additional 1,000 shares during the last quarter. Creative Planning bought a new position in shares of American Superconductor in the second quarter valued at approximately $208,000. Tower Research Capital LLC TRC lifted its holdings in American Superconductor by 304.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,762 shares of the technology company’s stock worth $211,000 after acquiring an additional 4,337 shares during the period. Garden State Investment Advisory Services LLC purchased a new position in American Superconductor in the second quarter worth $216,000. Finally, Cetera Investment Advisers purchased a new stake in shares of American Superconductor during the 2nd quarter valued at $222,000. 52.28% of the stock is owned by institutional investors.

About American Superconductor

American Superconductor Corporation (NASDAQ:AMSC) is a technology company specializing in power electronics and high-temperature superconductor systems. Founded in 1987 and headquartered in Devens, Massachusetts, AMSC develops hardware and software solutions aimed at improving the efficiency, reliability and stability of electric power systems and renewable energy infrastructure. The company’s engineering expertise spans from the lab scale to full commercial deployment, with a focus on tackling grid integration challenges for utilities and independent power producers.

AMSC’s portfolio includes superconducting wire and cryogenic systems, power grid stabilization devices, and turnkey wind turbine electronics.