Zacks Investment Research cut shares of American Superconductor (NASDAQ:AMSC) from a buy rating to a hold rating in a research report report published on Tuesday.

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. “

Separately, FBR & Co restated a hold rating and issued a $6.00 target price on shares of American Superconductor in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. American Superconductor has an average rating of Buy and a consensus price target of $6.82.

Shares of American Superconductor (NASDAQ:AMSC) opened at $5.52 on Tuesday. American Superconductor has a 12-month low of $2.89 and a 12-month high of $7.82.

American Superconductor (NASDAQ:AMSC) last released its earnings results on Tuesday, November 7th. The technology company reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.25. The company had revenue of $11.05 million during the quarter, compared to the consensus estimate of $10.93 million. American Superconductor had a negative return on equity of 58.10% and a negative net margin of 50.90%. American Superconductor’s quarterly revenue was down 40.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.60) EPS. sell-side analysts predict that American Superconductor will post -2.08 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in AMSC. GMT Capital Corp purchased a new position in American Superconductor in the 3rd quarter worth approximately $141,000. Dimensional Fund Advisors LP increased its stake in American Superconductor by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 37,496 shares of the technology company’s stock worth $173,000 after purchasing an additional 2,600 shares during the period. Wedbush Securities Inc. purchased a new position in American Superconductor in the 3rd quarter worth approximately $210,000. Manatuck Hill Partners LLC purchased a new position in American Superconductor in the 2nd quarter worth approximately $1,617,000. Finally, Royce & Associates LP increased its stake in American Superconductor by 114.3% in the 2nd quarter. Royce & Associates LP now owns 369,300 shares of the technology company’s stock worth $1,706,000 after purchasing an additional 197,000 shares during the period. 28.51% of the stock is currently owned by institutional investors and hedge funds.

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American Superconductor Company Profile

American Superconductor Corporation (AMSC) is a provider of megawatt-scale solutions. The Company operates through two segments: Wind and Grid. Through the Company’s Windtec Solutions brand, the Wind business segment enables manufacturers to field wind turbines. Through the Company’s Gridtec Solutions, the Grid business segment enables electric utilities and renewable energy project developers to connect, transmit and distribute power.

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