American Superconductor (NASDAQ:AMSC) Shares Up 6.1%

American Superconductor Co. (NASDAQ:AMSC)’s share price rose 6.1% during mid-day trading on Monday . The stock traded as high as $8.36 and last traded at $8.35, approximately 172,634 shares changed hands during trading. A decline of 45% from the average daily volume of 312,685 shares. The stock had previously closed at $7.87.

AMSC has been the subject of a number of research reports. Zacks Investment Research downgraded shares of American Superconductor from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. ValuEngine raised American Superconductor from a “hold” rating to a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.20.

The company has a market capitalization of $187.01 million, a price-to-earnings ratio of -12.20 and a beta of 1.11. The stock has a fifty day simple moving average of $8.05 and a 200-day simple moving average of $10.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.50 and a quick ratio of 3.09.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.04. The business had revenue of $13.77 million for the quarter, compared to analyst estimates of $10.95 million. American Superconductor had a negative return on equity of 22.93% and a net margin of 48.74%. During the same quarter in the prior year, the firm posted ($0.18) EPS. As a group, equities analysts expect that American Superconductor Co. will post -1.33 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMSC. Bank of Montreal Can grew its position in American Superconductor by 175.3% during the second quarter. Bank of Montreal Can now owns 2,753 shares of the technology company’s stock valued at $25,000 after buying an additional 1,753 shares during the period. JPMorgan Chase & Co. raised its position in shares of American Superconductor by 1,087.0% in the second quarter. JPMorgan Chase & Co. now owns 5,769 shares of the technology company’s stock worth $51,000 after acquiring an additional 5,283 shares during the period. Royal Bank of Canada boosted its stake in shares of American Superconductor by 29.4% during the 2nd quarter. Royal Bank of Canada now owns 12,669 shares of the technology company’s stock worth $118,000 after acquiring an additional 2,875 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of American Superconductor during the 1st quarter worth about $171,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of American Superconductor during the 2nd quarter valued at about $148,000. 45.79% of the stock is currently owned by hedge funds and other institutional investors.

About American Superconductor (NASDAQ:AMSC)

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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