Oppenheimer Issues Pessimistic Forecast for American Superconductor (NASDAQ:AMSC) Stock Price

American Superconductor (NASDAQ:AMSC) had its price objective decreased by analysts at Oppenheimer from $71.00 to $52.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer‘s target price points to a potential upside of 127.72% from the company’s current price.

AMSC has been the subject of several other research reports. Weiss Ratings lowered shares of American Superconductor from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. Wall Street Zen raised shares of American Superconductor from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Roth Capital reaffirmed a “buy” rating and set a $55.00 target price (down from $58.00) on shares of American Superconductor in a research note on Monday, August 10th. Finally, Freedom Capital upgraded shares of American Superconductor to a “strong-buy” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

American Superconductor Trading Down 4.8%

American Superconductor stock traded down $1.15 during midday trading on Friday, reaching $22.84. 405,612 shares of the stock traded hands, compared to its average volume of 1,003,669. The company has a 50-day simple moving average of $28.46 and a two-hundred day simple moving average of $35.04. American Superconductor has a 12-month low of $22.76 and a 12-month high of $60.18. The firm has a market cap of $1.11 billion, a PE ratio of 7.69 and a beta of 3.32.

American Superconductor (NASDAQ:AMSC) last released its earnings results on Wednesday, November 4th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $94.04 million during the quarter, compared to analyst estimates of $87.32 million. American Superconductor had a net margin of 38.63% and a return on equity of 24.34%. The business’s revenue was up 42.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. Equities research analysts anticipate that American Superconductor will post 0.37 earnings per share for the current year.

Institutional Trading of American Superconductor

A number of large investors have recently made changes to their positions in AMSC. AWM Investment Company Inc. acquired a new stake in American Superconductor in the second quarter valued at approximately $39,501,000. Ranger Investment Management L.P. acquired a new position in American Superconductor during the 2nd quarter worth approximately $16,823,000. Sei Investments Co. grew its holdings in American Superconductor by 184.8% during the 1st quarter. Sei Investments Co. now owns 224,436 shares of the technology company’s stock worth $7,597,000 after acquiring an additional 145,626 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of American Superconductor by 21.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 658,297 shares of the technology company’s stock valued at $22,278,000 after purchasing an additional 118,044 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of American Superconductor by 14.0% in the 1st quarter. First Trust Advisors LP now owns 778,268 shares of the technology company’s stock valued at $26,344,000 after purchasing an additional 95,301 shares during the last quarter. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

American Superconductor Company Profile

American Superconductor Corporation (NASDAQ:AMSC) develops power-resiliency solutions that help electric utilities, industrial companies, renewable-energy developers and defense organizations improve the reliability, efficiency and performance of electrical systems. The company combines power electronics, software and engineering services to address challenges involving grid stability, power quality and renewable-energy integration.

AMSC’s Gridtec business offers solutions such as voltage-regulation and power-quality systems, grid interconnection technologies, and resilient-grid products designed to support electric transmission and distribution networks.