American Superconductor’s (AMSC) Buy Rating Reiterated at Craig Hallum

Craig Hallum reiterated their buy rating on shares of American Superconductor (NASDAQ:AMSC) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $33.00 target price on the technology company’s stock.

A number of other research analysts also recently issued reports on the company. Roth Mkm raised their price target on American Superconductor from $27.00 to $29.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Oppenheimer raised their target price on shares of American Superconductor from $16.00 to $23.00 and gave the stock an outperform rating in a research report on Friday, May 31st.

American Superconductor Trading Down 1.1 %

AMSC stock opened at $21.68 on Tuesday. The stock has a market cap of $802.12 million, a P/E ratio of -55.59 and a beta of 2.13. American Superconductor has a twelve month low of $5.78 and a twelve month high of $32.70. The company’s 50 day moving average is $23.05 and its two-hundred day moving average is $18.58.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.09. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. The firm had revenue of $40.29 million for the quarter, compared to analyst estimates of $39.55 million. On average, equities research analysts predict that American Superconductor will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On American Superconductor

Several institutional investors have recently added to or reduced their stakes in AMSC. AWM Investment Company Inc. grew its stake in shares of American Superconductor by 19.4% in the 1st quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock valued at $35,954,000 after purchasing an additional 433,018 shares during the last quarter. Baillie Gifford & Co. grew its position in American Superconductor by 21.1% in the 1st quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after buying an additional 440,271 shares during the last quarter. Hood River Capital Management LLC increased its stake in American Superconductor by 7.2% in the 2nd quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company’s stock valued at $40,582,000 after buying an additional 116,207 shares during the period. Vanguard Group Inc. raised its position in American Superconductor by 30.5% during the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock worth $22,953,000 after buying an additional 396,814 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in American Superconductor by 643.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock worth $24,725,000 after buying an additional 914,872 shares during the last quarter. Institutional investors and hedge funds own 52.28% of the company’s stock.

American Superconductor Company Profile

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand; and engineering planning services.