American Superconductor (NASDAQ:AMSC) Posts Earnings Results, Misses Estimates By $0.01 EPS

American Superconductor (NASDAQ:AMSC) announced its quarterly earnings results on Wednesday. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01), FiscalAI reports. American Superconductor had a net margin of 42.56% and a return on equity of 27.41%. The company had revenue of $94.04 million during the quarter, compared to analysts’ expectations of $87.32 million. During the same quarter last year, the firm posted $0.20 earnings per share. American Superconductor’s revenue for the quarter was up 42.8% compared to the same quarter last year.

American Superconductor Stock Down 5.1%

Shares of AMSC traded down $1.42 during trading hours on Wednesday, reaching $26.26. 890,460 shares of the company traded hands, compared to its average volume of 792,187. The company’s fifty day moving average price is $28.57 and its two-hundred day moving average price is $35.08. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.67 and a beta of 3.32. American Superconductor has a 12 month low of $24.08 and a 12 month high of $60.65.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMSC shares. Weiss Ratings cut 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 American Superconductor from a “sell” rating to a “hold” rating in a report on Sunday, August 30th. Roth Capital restated a “buy” rating and issued a $55.00 target price (down from $58.00) on shares of American Superconductor in a research report on Monday, August 10th. Finally, Freedom Capital upgraded shares of American Superconductor to a “strong-buy” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, American Superconductor currently has an average rating of “Moderate Buy” and an average target price of $55.00.

About American Superconductor

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.