Superconductor Technologies (SCON) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Superconductor Technologies (NASDAQ:SCON) from a buy rating to a hold rating in a research report released on Thursday, reports.

According to Zacks, “Superconductor Technologies Inc. manufactures and markets high-performance filters to service providers and original equipment manufacturers in the mobile wireless telecommunications industry. The company’s product, the SuperFilter, combines high-temperature superconductors with cryogenic cooling technology to produce a filter with significant advantages over conventional filters. The company was engaged primarily in research and development and generated revenues primarily from government research contracts. “

Several other research firms have also issued reports on SCON. HC Wainwright set a $9.00 target price on Superconductor Technologies and gave the company a buy rating in a research note on Tuesday, April 23rd. ValuEngine upgraded Superconductor Technologies from a hold rating to a buy rating in a research note on Monday, April 1st.

SCON stock opened at $0.91 on Thursday. The stock has a market capitalization of $3.46 million, a P/E ratio of -0.23 and a beta of 0.65. Superconductor Technologies has a 1-year low of $0.87 and a 1-year high of $12.88.

Superconductor Technologies (NASDAQ:SCON) last released its quarterly earnings data on Thursday, May 9th. The semiconductor company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.17). Superconductor Technologies had a negative net margin of 414.94% and a negative return on equity of 142.41%. On average, research analysts anticipate that Superconductor Technologies will post -1.94 EPS for the current fiscal year.

About Superconductor Technologies

Superconductor Technologies Inc, together with its subsidiaries, develops, produces, and commercializes high temperature superconductor materials and related technologies in the United States. It is involved in developing Conductus superconducting wire for power applications. The company was founded in 1987 and is headquartered in Austin, Texas.

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