Zacks Investment Research upgraded shares of American Superconductor (NASDAQ:AMSC) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning, Zacks.com reports. Zacks Investment Research currently has $8.50 target price on the technology company’s stock.
According to Zacks, “American Superconductor Corporation is a leading energy technologies company. The company develops and sells a wide range of products and solutions based on power electronic systems and high temperature superconductor wires that dramatically improve the efficiency, reliability and quality of electricity during its generation, transmission, distribution and use. The company is a dominant force in alternative energy, offering grid interconnection solutions as well as licensed wind energy designs and electrical systems. As the world’s principal supplier of HTS wire, AMSC is enabling a new generation of compact, high-power electrical products, including power cables, grid-level surge protectors, motors, generators, and advanced transportation and defense systems. AMSC also provides utility and industrial customers worldwide with voltage regulation systems that dramatically enhance power grid capacity, reliability and security, as well as industrial productivity. “
Separately, ValuEngine lowered American Superconductor from a hold rating to a sell rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. American Superconductor currently has an average rating of Hold and a consensus target price of $11.83.
American Superconductor (NASDAQ:AMSC) last announced its earnings results on Tuesday, November 5th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.25. American Superconductor had a negative return on equity of 20.48% and a net margin of 8.10%. The firm had revenue of $14.01 million during the quarter, compared to analyst estimates of $13.35 million. During the same period last year, the firm posted ($0.13) EPS. On average, analysts forecast that American Superconductor will post -1.03 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in AMSC. BlackRock Inc. increased its holdings in American Superconductor by 269.8% in the 2nd quarter. BlackRock Inc. now owns 1,316,887 shares of the technology company’s stock worth $12,221,000 after acquiring an additional 960,760 shares during the last quarter. Renaissance Technologies LLC increased its holdings in American Superconductor by 55.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,157,933 shares of the technology company’s stock worth $10,746,000 after acquiring an additional 415,286 shares during the last quarter. AWM Investment Company Inc. increased its holdings in American Superconductor by 2.1% in the 2nd quarter. AWM Investment Company Inc. now owns 1,099,828 shares of the technology company’s stock worth $10,206,000 after acquiring an additional 22,560 shares during the last quarter. Vanguard Group Inc. increased its holdings in American Superconductor by 14.7% in the 2nd quarter. Vanguard Group Inc. now owns 862,623 shares of the technology company’s stock worth $8,005,000 after acquiring an additional 110,545 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in American Superconductor by 5.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 564,804 shares of the technology company’s stock worth $5,241,000 after acquiring an additional 28,272 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.
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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