Analysts Set American Superconductor Corporation (NASDAQ:AMSC) Price Target at $8.50

Shares of American Superconductor Corporation (NASDAQ:AMSC) have received a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $8.50.

Several equities analysts have recently issued reports on AMSC shares. FBR & Co reiterated a “buy” rating and set a $9.00 price objective on shares of American Superconductor Corporation in a research report on Friday, May 26th. Rodman & Renshaw restated a “buy” rating and issued a $7.50 target price (down from $10.00) on shares of American Superconductor Corporation in a research report on Friday, April 28th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of American Superconductor Corporation in a research report on Monday, May 29th. Zacks Investment Research downgraded American Superconductor Corporation from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. Finally, ValuEngine downgraded American Superconductor Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd.

American Superconductor Corporation (NASDAQ:AMSC) traded down 2.48% during trading on Friday, reaching $4.32. The company had a trading volume of 126,887 shares. The company has a 50-day moving average of $4.35 and a 200-day moving average of $6.09. American Superconductor Corporation has a 52-week low of $3.88 and a 52-week high of $9.38. The firm’s market capitalization is $80.31 million.

American Superconductor Corporation (NASDAQ:AMSC) last issued its quarterly earnings data on Thursday, May 25th. The technology company reported ($0.51) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.04. The business had revenue of $16.20 million during the quarter, compared to the consensus estimate of $15.36 million. American Superconductor Corporation had a negative return on equity of 42.53% and a negative net margin of 36.40%. The business’s revenue was down 41.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.28) earnings per share. Analysts expect that American Superconductor Corporation will post ($1.73) EPS for the current fiscal year.

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In other news, Director Vikram S. Budhraja bought 12,500 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was purchased at an average cost of $4.00 per share, for a total transaction of $50,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel P. Mcgahn bought 25,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was purchased at an average price of $4.00 per share, with a total value of $100,000.00. The disclosure for this purchase can be found here. Insiders acquired 43,750 shares of company stock valued at $175,000 over the last 90 days. 2.60% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the company. First Manhattan Co. increased its stake in American Superconductor Corporation by 9.6% in the first quarter. First Manhattan Co. now owns 15,369 shares of the technology company’s stock worth $107,000 after buying an additional 1,350 shares during the period. Bank of New York Mellon Corp increased its stake in shares of American Superconductor Corporation by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 83,720 shares of the technology company’s stock worth $575,000 after buying an additional 1,635 shares during the period. Renaissance Technologies LLC increased its stake in shares of American Superconductor Corporation by 1.9% in the fourth quarter. Renaissance Technologies LLC now owns 425,888 shares of the technology company’s stock worth $3,139,000 after buying an additional 7,800 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of American Superconductor Corporation during the fourth quarter worth approximately $166,000. Finally, GMT Capital Corp bought a new stake in shares of American Superconductor Corporation during the first quarter worth approximately $213,000. Hedge funds and other institutional investors own 29.91% of the company’s stock.

About American Superconductor Corporation

American Superconductor Corporation (AMSC) is a provider of megawatt-scale solutions. The Company operates through two segments: Wind and Grid. Through the Company’s Windtec Solutions brand, the Wind business segment enables manufacturers to field wind turbines. Through the Company’s Gridtec Solutions, the Grid business segment enables electric utilities and renewable energy project developers to connect, transmit and distribute power.

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