American Superconductor (NASDAQ:AMSC) Posts Earnings Results, Beats Expectations By $0.11 EPS

American Superconductor (NASDAQ:AMSC) issued its quarterly earnings results on Wednesday. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.11, FiscalAI reports. The business had revenue of $86.41 million during the quarter, compared to analyst estimates of $82.10 million. American Superconductor had a net margin of 46.70% and a return on equity of 37.97%.

American Superconductor Price Performance

NASDAQ AMSC traded down $0.44 on Wednesday, reaching $52.68. The company’s stock had a trading volume of 1,762,385 shares, compared to its average volume of 1,151,454. American Superconductor has a twelve month low of $24.87 and a twelve month high of $70.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.80 and a current ratio of 2.66. The stock has a market cap of $2.51 billion, a PE ratio of 17.98 and a beta of 3.28. The firm’s 50 day moving average is $42.35 and its two-hundred day moving average is $35.45.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research downgraded shares of American Superconductor from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Weiss Ratings raised shares of American Superconductor from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On American Superconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp lifted its holdings in American Superconductor by 4.9% in the 4th quarter. State Street Corp now owns 1,192,093 shares of the technology company’s stock valued at $34,308,000 after acquiring an additional 56,215 shares during the last quarter. Atreides Management LP raised its holdings in American Superconductor by 34.0% during the 2nd quarter. Atreides Management LP now owns 1,104,458 shares of the technology company’s stock worth $40,523,000 after buying an additional 280,418 shares during the period. Geode Capital Management LLC increased its holdings in shares of American Superconductor by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,090,710 shares of the technology company’s stock valued at $31,396,000 after purchasing an additional 20,855 shares during the period. Nuveen LLC increased its holdings in shares of American Superconductor by 16.3% in the 4th quarter. Nuveen LLC now owns 960,968 shares of the technology company’s stock valued at $27,657,000 after purchasing an additional 134,816 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in American Superconductor by 221.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 760,457 shares of the technology company’s stock worth $45,164,000 after buying an additional 524,061 shares during the last quarter. 52.28% of the stock is owned by institutional investors and hedge funds.

American Superconductor Company Profile

American Superconductor Corporation (NASDAQ:AMSC) is a technology company specializing in power electronics and high-temperature superconductor systems. Founded in 1987 and headquartered in Devens, Massachusetts, AMSC develops hardware and software solutions aimed at improving the efficiency, reliability and stability of electric power systems and renewable energy infrastructure. The company’s engineering expertise spans from the lab scale to full commercial deployment, with a focus on tackling grid integration challenges for utilities and independent power producers.

AMSC’s portfolio includes superconducting wire and cryogenic systems, power grid stabilization devices, and turnkey wind turbine electronics.