American Superconductor (NASDAQ:AMSC) Releases Earnings Results, Beats Expectations By $0.04 EPS

American Superconductor (NASDAQ:AMSC) issued its earnings results on Tuesday. The technology company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.04, Bloomberg Earnings reports. American Superconductor had a net margin of 47.61% and a negative return on equity of 22.58%. The business had revenue of $13.77 million during the quarter, compared to analysts’ expectations of $10.95 million. During the same period in the prior year, the business earned ($0.18) earnings per share. American Superconductor updated its Q2 2019 guidance to $-0.36 EPS.

Shares of AMSC traded up $0.92 during mid-day trading on Wednesday, reaching $8.49. The stock had a trading volume of 8,648 shares, compared to its average volume of 179,891. American Superconductor has a 52-week low of $5.52 and a 52-week high of $16.44. The company has a fifty day moving average of $8.96. The stock has a market capitalization of $174.20 million, a price-to-earnings ratio of -10.65 and a beta of 1.01.

Several institutional investors and hedge funds have recently made changes to their positions in AMSC. Bank of New York Mellon Corp increased its holdings in American Superconductor by 268.5% in the 4th quarter. Bank of New York Mellon Corp now owns 112,802 shares of the technology company’s stock valued at $1,257,000 after acquiring an additional 82,192 shares during the last quarter. Raymond James & Associates increased its holdings in American Superconductor by 28.7% in the 4th quarter. Raymond James & Associates now owns 19,333 shares of the technology company’s stock valued at $216,000 after acquiring an additional 4,311 shares during the last quarter. Tibra Equities Europe Ltd bought a new stake in American Superconductor in the 1st quarter valued at $541,000. Psagot Investment House Ltd. increased its holdings in American Superconductor by 413.6% in the 1st quarter. Psagot Investment House Ltd. now owns 2,008 shares of the technology company’s stock valued at $26,000 after acquiring an additional 1,617 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. increased its holdings in American Superconductor by 9.9% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 37,270 shares of the technology company’s stock valued at $479,000 after acquiring an additional 3,350 shares during the last quarter. 42.56% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on the stock. BidaskClub lowered shares of American Superconductor from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. ValuEngine lowered shares of American Superconductor from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of American Superconductor from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $14.20.

About American Superconductor

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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Earnings History for American Superconductor (NASDAQ:AMSC)

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