American Superconductor (NASDAQ:AMSC) Downgraded by Zacks Investment Research

American Superconductor (NASDAQ:AMSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday, Zacks.com reports.

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. “

A number of other brokerages also recently commented on AMSC. ValuEngine downgraded American Superconductor from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub downgraded American Superconductor from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.20.

AMSC stock traded up $0.38 during trading on Friday, reaching $7.92. 221,341 shares of the company’s stock were exchanged, compared to its average volume of 328,523. The company has a quick ratio of 3.09, a current ratio of 3.50 and a debt-to-equity ratio of 0.04. American Superconductor has a 1-year low of $5.52 and a 1-year high of $16.44. The company’s fifty day moving average price is $8.88 and its 200-day moving average price is $11.35. The firm has a market cap of $162.64 million, a PE ratio of -10.03 and a beta of 1.01.

American Superconductor (NASDAQ:AMSC) last announced its earnings results on Tuesday, August 6th. The technology company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. The company 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 period in the previous year, the firm earned ($0.18) earnings per share. As a group, sell-side analysts expect that American Superconductor will post -1.33 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of American Superconductor by 269.8% during the second quarter. BlackRock Inc. now owns 1,316,887 shares of the technology company’s stock worth $12,221,000 after buying an additional 960,760 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of American Superconductor by 55.9% during the second quarter. Renaissance Technologies LLC now owns 1,157,933 shares of the technology company’s stock worth $10,746,000 after buying an additional 415,286 shares in the last quarter. AWM Investment Company Inc. increased its holdings in shares of American Superconductor by 2.1% during the second quarter. AWM Investment Company Inc. now owns 1,099,828 shares of the technology company’s stock worth $10,206,000 after buying an additional 22,560 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of American Superconductor by 14.7% during the second quarter. Vanguard Group Inc. now owns 862,623 shares of the technology company’s stock worth $8,005,000 after buying an additional 110,545 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of American Superconductor by 5.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 564,804 shares of the technology company’s stock worth $5,241,000 after buying an additional 28,272 shares in the last quarter. Institutional investors and hedge funds own 42.26% 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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