American Superconductor Co. (NASDAQ:AMSC) saw an uptick in trading volume on Wednesday following a better than expected earnings announcement. 1,094,026 shares changed hands during mid-day trading, an increase of 495% from the previous session’s volume of 183,918 shares.The stock last traded at $9.35 and had previously closed at $7.54.
The technology company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.11. American Superconductor had a negative net margin of 42.74% and a negative return on equity of 41.86%. The business had revenue of $14.88 million during the quarter, compared to analysts’ expectations of $13.90 million.
Several brokerages recently commented on AMSC. Craig Hallum increased their target price on shares of American Superconductor to $15.00 and gave the stock a “buy” rating in a report on Wednesday. ValuEngine upgraded shares of American Superconductor from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 1st. Finally, Zacks Investment Research upgraded shares of American Superconductor from a “sell” rating to a “hold” rating and set a $7.00 target price for the company in a report on Wednesday, August 8th.
The stock has a market capitalization of $166.64 million, a PE ratio of -5.08 and a beta of 1.33.
American Superconductor Company Profile (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.
Read More: Compound Annual Growth Rate (CAGR)
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