American Superconductor (NASDAQ:AMSC) Cut to “Sell” at Zacks Investment Research

American Superconductor (NASDAQ:AMSCGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, 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. “

Several other research firms have also commented on AMSC. Craig Hallum reduced their price objective on American Superconductor to $11.00 in a research note on Friday, June 3rd. Roth Capital dropped their price objective on American Superconductor from $23.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, June 3rd. Finally, StockNews.com cut American Superconductor from a “hold” rating to a “sell” rating in a research report on Sunday.

Shares of NASDAQ:AMSC traded up $0.11 during mid-day trading on Thursday, reaching $6.36. The stock had a trading volume of 5,080 shares, compared to its average volume of 264,820. The firm has a 50 day simple moving average of $6.01 and a two-hundred day simple moving average of $8.36. American Superconductor has a twelve month low of $4.45 and a twelve month high of $19.43. The firm has a market cap of $181.39 million, a PE ratio of -9.09 and a beta of 1.37.

American Superconductor (NASDAQ:AMSCGet Rating) last issued its quarterly earnings results on Wednesday, June 1st. The technology company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. American Superconductor had a negative net margin of 17.70% and a negative return on equity of 19.02%. During the same period in the prior year, the company posted ($0.25) EPS. On average, equities research analysts expect that American Superconductor will post -0.85 EPS for the current fiscal year.

In related news, CEO Daniel P. Mcgahn sold 21,725 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $5.45, for a total transaction of $118,401.25. Following the transaction, the chief executive officer now owns 700,810 shares of the company’s stock, valued at $3,819,414.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John W. Kosiba, Jr. sold 13,325 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $5.45, for a total value of $72,621.25. Following the transaction, the chief financial officer now directly owns 197,232 shares in the company, valued at approximately $1,074,914.40. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG grew its holdings in American Superconductor by 4,040.0% in the 3rd quarter. UBS Group AG now owns 3,312 shares of the technology company’s stock valued at $49,000 after buying an additional 3,232 shares during the period. Citigroup Inc. lifted its position in shares of American Superconductor by 187.2% during the third quarter. Citigroup Inc. now owns 3,791 shares of the technology company’s stock worth $55,000 after purchasing an additional 2,471 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in American Superconductor by 163.9% during the third quarter. BNP Paribas Arbitrage SA now owns 7,137 shares of the technology company’s stock valued at $104,000 after purchasing an additional 4,433 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of American Superconductor during the 4th quarter worth approximately $112,000. Finally, Cavalry Management Group LLC acquired a new stake in American Superconductor in the fourth quarter worth $123,000. 58.19% of the stock is currently owned by hedge funds and other institutional investors.

About American Superconductor (Get Rating)

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.

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