American Superconductor (NASDAQ:AMSC) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of American Superconductor (NASDAQ:AMSC) from a hold rating to a sell rating in a research note released on Friday morning, Zacks.com reports.

According to Zacks, “American Superconductor Corporation is a leading energy technologies company. The company develops and sells a wide range of products and solutions based on power electronic systems and high temperature superconductor wires that dramatically improve the efficiency, reliability and quality of electricity during its generation, transmission, distribution and use. The company is a dominant force in alternative energy, offering grid interconnection solutions as well as licensed wind energy designs and electrical systems. As the world’s principal supplier of HTS wire, AMSC is enabling a new generation of compact, high-power electrical products, including power cables, grid-level surge protectors, motors, generators, and advanced transportation and defense systems. AMSC also provides utility and industrial customers worldwide with voltage regulation systems that dramatically enhance power grid capacity, reliability and security, as well as industrial productivity. “

AMSC has been the subject of a number of other research reports. ValuEngine downgraded American Superconductor from a buy rating to a hold rating in a research report on Thursday, August 1st. BidaskClub downgraded American Superconductor from a hold rating to a sell rating in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $14.20.

Shares of AMSC stock opened at $7.92 on Friday. The stock has a fifty day moving average price of $8.86 and a 200 day moving average price of $11.34. American Superconductor has a 1 year low of $5.52 and a 1 year high of $16.44. The company has a quick ratio of 3.09, a current ratio of 3.50 and a debt-to-equity ratio of 0.04.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.04. The firm had revenue of $13.77 million during the quarter, compared to analysts’ expectations of $10.95 million. American Superconductor had a negative return on equity of 22.93% and a net margin of 48.74%. During the same period in the previous year, the firm posted ($0.18) earnings per share. As a group, equities analysts forecast that American Superconductor will post -1.33 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in American Superconductor by 269.8% during the second quarter. BlackRock Inc. now owns 1,316,887 shares of the technology company’s stock valued at $12,221,000 after acquiring an additional 960,760 shares during the period. GMT Capital Corp purchased a new stake in American Superconductor during the first quarter valued at about $6,671,000. Renaissance Technologies LLC grew its position in American Superconductor by 55.9% during the second quarter. Renaissance Technologies LLC now owns 1,157,933 shares of the technology company’s stock valued at $10,746,000 after acquiring an additional 415,286 shares during the period. Marshall Wace LLP purchased a new stake in American Superconductor during the first quarter valued at about $2,961,000. Finally, Acadian Asset Management LLC purchased a new stake in American Superconductor during the first quarter valued at about $1,467,000. 42.26% of the stock is owned by institutional investors and hedge funds.

American Superconductor Company Profile

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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