American Superconductor (NASDAQ:AMSC) Upgraded to “Hold” at Zacks Investment Research

American Superconductor (NASDAQ:AMSC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, 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. “

NASDAQ AMSC traded down $0.27 during trading hours on Wednesday, hitting $13.13. 5,569 shares of the company traded hands, compared to its average volume of 410,046. The business’s 50-day moving average is $13.68 and its 200-day moving average is $16.29. American Superconductor has a twelve month low of $11.25 and a twelve month high of $31.78. The stock has a market capitalization of $371.95 million, a price-to-earnings ratio of -13.54 and a beta of 1.09.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results on Tuesday, August 3rd. The technology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.06. American Superconductor had a negative return on equity of 17.25% and a negative net margin of 27.00%. The firm had revenue of $25.42 million during the quarter, compared to analysts’ expectations of $24.00 million. As a group, research analysts forecast that American Superconductor will post -0.71 EPS for the current fiscal year.

In other news, CEO Daniel P. Mcgahn sold 14,664 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $17.66, for a total value of $258,966.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John W. Kosiba, Jr. sold 6,409 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $17.66, for a total value of $113,182.94. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in shares of American Superconductor by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 16,908 shares of the technology company’s stock worth $294,000 after purchasing an additional 1,324 shares during the period. Squarepoint Ops LLC increased its stake in shares of American Superconductor by 12.1% during the second quarter. Squarepoint Ops LLC now owns 12,637 shares of the technology company’s stock worth $220,000 after purchasing an additional 1,361 shares during the period. US Bancorp DE bought a new position in shares of American Superconductor during the second quarter worth approximately $31,000. State of Wisconsin Investment Board increased its stake in shares of American Superconductor by 12.8% during the first quarter. State of Wisconsin Investment Board now owns 16,800 shares of the technology company’s stock worth $319,000 after purchasing an additional 1,900 shares during the period. Finally, Virtu Financial LLC increased its stake in shares of American Superconductor by 26.4% during the first quarter. Virtu Financial LLC now owns 12,679 shares of the technology company’s stock worth $240,000 after purchasing an additional 2,652 shares during the period. Institutional investors own 56.43% of the company’s stock.

American Superconductor Company Profile

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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