American Superconductor (NASDAQ:AMSC) Rating Increased to Buy at ValuEngine

American Superconductor (NASDAQ:AMSC) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday, ValuEngine reports.

Several other equities research analysts have also recently issued reports on AMSC. BidaskClub cut shares of American Superconductor from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 16th. Zacks Investment Research cut shares of American Superconductor from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $14.20.

American Superconductor stock opened at $9.67 on Tuesday. American Superconductor has a 12-month low of $4.84 and a 12-month high of $16.44. The business’s 50-day moving average price is $9.53.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings results on Wednesday, June 5th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.02). American Superconductor had a negative return on equity of 22.58% and a net margin of 47.61%. The firm had revenue of $14.59 million for the quarter, compared to analyst estimates of $14.85 million. During the same period in the prior year, the business earned ($0.25) earnings per share. Sell-side analysts predict that American Superconductor will post -1.06 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in AMSC. GMT Capital Corp purchased a new position in shares of American Superconductor during the 1st quarter worth about $6,671,000. Marshall Wace LLP purchased a new position in American Superconductor in the first quarter valued at approximately $2,961,000. D. E. Shaw & Co. Inc. raised its holdings in American Superconductor by 231.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 261,852 shares of the technology company’s stock valued at $2,919,000 after buying an additional 182,795 shares during the period. Royce & Associates LP raised its holdings in American Superconductor by 25.5% in the fourth quarter. Royce & Associates LP now owns 571,874 shares of the technology company’s stock valued at $6,376,000 after buying an additional 116,374 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in American Superconductor in the first quarter valued at approximately $1,467,000. Institutional investors and hedge funds own 42.49% of the company’s stock.

American Superconductor Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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