StockNews.com Downgrades American Superconductor (NASDAQ:AMSC) to Sell

American Superconductor (NASDAQ:AMSCGet Rating) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other research analysts also recently issued reports on the stock. Oppenheimer reduced their price objective on shares of American Superconductor from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, August 8th. Craig Hallum reduced their price objective on shares of American Superconductor to $11.00 in a research report on Friday, June 3rd. Finally, Roth Capital reduced their price objective on shares of American Superconductor from $23.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, June 3rd.

American Superconductor Price Performance

Shares of American Superconductor stock opened at $5.02 on Wednesday. The firm has a market cap of $143.22 million, a PE ratio of -6.12 and a beta of 1.41. American Superconductor has a 1 year low of $4.23 and a 1 year high of $19.36. The company has a 50 day simple moving average of $5.31 and a two-hundred day simple moving average of $5.97.

American Superconductor (NASDAQ:AMSCGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The technology company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). American Superconductor had a negative return on equity of 23.23% and a negative net margin of 21.29%. During the same quarter in the prior year, the business earned ($0.15) earnings per share. As a group, research analysts anticipate that American Superconductor will post -0.87 earnings per share for the current year.

Hedge Funds Weigh In On American Superconductor

A number of hedge funds have recently bought and sold shares of AMSC. AWM Investment Company Inc. boosted its stake in American Superconductor by 57.1% in the 2nd quarter. AWM Investment Company Inc. now owns 1,511,497 shares of the technology company’s stock worth $7,830,000 after purchasing an additional 549,255 shares in the last quarter. Millennium Management LLC increased its position in shares of American Superconductor by 550.2% during the 2nd quarter. Millennium Management LLC now owns 579,500 shares of the technology company’s stock valued at $3,002,000 after purchasing an additional 490,379 shares during the last quarter. Eaton Vance Management increased its position in shares of American Superconductor by 29,717.6% during the 1st quarter. Eaton Vance Management now owns 149,088 shares of the technology company’s stock valued at $1,135,000 after purchasing an additional 148,588 shares during the last quarter. KBC Group NV increased its position in shares of American Superconductor by 106.4% during the 2nd quarter. KBC Group NV now owns 278,414 shares of the technology company’s stock valued at $1,442,000 after purchasing an additional 143,530 shares during the last quarter. Finally, GMT Capital Corp purchased a new stake in shares of American Superconductor during the 1st quarter valued at about $822,000. Institutional investors own 46.44% of the company’s stock.

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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