Zacks Investment Research Upgrades Superconductor Technologies Inc. (SCON) to Hold
Superconductor Technologies Inc. (NASDAQ:SCON) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Superconductor Technologies Inc. manufactures and markets high-performance filters to service providers and original equipment manufacturers in the mobile wireless telecommunications industry. The company’s product, the SuperFilter, combines high-temperature superconductors with cryogenic cooling technology to produce a filter with significant advantages over conventional filters. The company was engaged primarily in research and development and generated revenues primarily from government research contracts. “
Shares of Superconductor Technologies (NASDAQ:SCON) opened at 2.59 on Tuesday. The stock’s market capitalization is $7.12 million. The firm’s 50-day moving average is $2.47 and its 200 day moving average is $2.84. Superconductor Technologies has a 12-month low of $2.12 and a 12-month high of $4.80.
Superconductor Technologies (NASDAQ:SCON) last issued its quarterly earnings results on Thursday, August 11th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.45) by $0.69. Superconductor Technologies had a negative net margin of 4,808.72% and a negative return on equity of 109.86%. On average, equities research analysts forecast that Superconductor Technologies will post ($3.83) EPS for the current fiscal year.
An institutional investor recently raised its position in Superconductor Technologies stock. Sabby Management LLC increased its stake in shares of Superconductor Technologies Inc. (NASDAQ:SCON) by 16.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,734,500 shares of the company’s stock after buying an additional 384,508 shares during the period. Sabby Management LLC owned 15.90% of Superconductor Technologies worth $523,000 as of its most recent SEC filing.
Superconductor Technologies Company Profile
Superconductor Technologies Inc is engaged in developing and commercializing high temperature superconductor (HTS) materials and related technologies. The Company operates through the research, development, manufacture and marketing of high performance products used in cellular base stations segment.
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