American Superconductor (NASDAQ:AMSC) Releases Q3 2021 Earnings Guidance

American Superconductor (NASDAQ:AMSC) issued an update on its third quarter 2021 earnings guidance on Monday morning. The company provided earnings per share guidance of $-$-0.200 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.130. The company issued revenue guidance of $25 million-$28 million, compared to the consensus revenue estimate of $29 million.

Shares of NASDAQ:AMSC traded up $0.14 during trading on Thursday, reaching $13.68. The stock had a trading volume of 103,617 shares, compared to its average volume of 374,473. American Superconductor has a 52 week low of $11.25 and a 52 week high of $31.78. The stock has a market capitalization of $388.44 million, a PE ratio of -14.25 and a beta of 1.14. The business’s 50-day moving average price is $15.64 and its 200 day moving average price is $14.90.

American Superconductor (NASDAQ:AMSC) last announced its earnings results on Monday, November 8th. The technology company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.03). American Superconductor had a negative return on equity of 17.64% and a negative net margin of 25.87%. The business had revenue of $27.91 million for the quarter, compared to analyst estimates of $24.90 million. During the same quarter in the previous year, the company posted ($0.16) EPS. Equities research analysts anticipate that American Superconductor will post -0.76 earnings per share for the current fiscal year.

A number of brokerages have commented on AMSC. Zacks Investment Research cut shares of American Superconductor from a hold rating to a sell rating in a research note on Wednesday, November 17th. TheStreet upgraded shares of American Superconductor from a d+ rating to a c- rating in a research note on Friday, October 29th.

In other news, CFO John W. Kosiba, Jr. sold 3,766 shares of the stock in a transaction on Monday, November 1st. The shares were sold at an average price of $18.95, for a total value of $71,365.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Daniel P. Mcgahn sold 7,241 shares of the stock in a transaction on Monday, November 1st. The shares were sold at an average price of $18.96, for a total transaction of $137,289.36. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG lifted its holdings in shares of American Superconductor by 4,040.0% in the third quarter. UBS Group AG now owns 3,312 shares of the technology company’s stock worth $49,000 after buying an additional 3,232 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of American Superconductor by 163.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,137 shares of the technology company’s stock valued at $104,000 after buying an additional 4,433 shares in the last quarter. Morgan Stanley lifted its holdings in shares of American Superconductor by 71.8% in the 3rd quarter. Morgan Stanley now owns 22,081 shares of the technology company’s stock valued at $322,000 after acquiring an additional 9,231 shares during the last quarter. Royal Bank of Canada grew its position in American Superconductor by 73.5% in the third quarter. Royal Bank of Canada now owns 47,135 shares of the technology company’s stock worth $688,000 after acquiring an additional 19,970 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in American Superconductor by 7.5% during the third quarter. Bank of New York Mellon Corp now owns 129,103 shares of the technology company’s stock worth $1,882,000 after acquiring an additional 9,042 shares during the last quarter. Institutional investors own 57.11% of the company’s stock.

About American Superconductor

American Superconductor Corp. engages in provision of megawatt-scale power solutions, which improve the performance of the power grid and lower the cost of wind power. It operates through Grid and Wind segments. The Grid segment enables electric utilities and renewable energy project developers to connect, transmit, and distribute power with efficiency, reliability, security, and affordability.

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