American Superconductor (NASDAQ:AMSC) Releases Q1 2022 Earnings Guidance

American Superconductor (NASDAQ:AMSCGet Rating) issued an update on its first quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of –$0.25 for the period, compared to the consensus estimate of -$0.17. The company issued revenue guidance of $23.00 million-$26.00 million, compared to the consensus revenue estimate of $27.55 million.

American Superconductor stock traded down $0.32 during midday trading on Friday, reaching $4.86. The stock had a trading volume of 176,751 shares, compared to its average volume of 334,057. American Superconductor has a 12 month low of $4.23 and a 12 month high of $19.36. The firm’s 50-day moving average price is $5.36 and its 200 day moving average price is $7.52. The firm has a market capitalization of $138.66 million, a PE ratio of -6.94 and a beta of 1.37.

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

Several brokerages have recently weighed in on AMSC. Craig Hallum decreased their price target on American Superconductor to $11.00 in a research report on Friday, June 3rd. Roth Capital decreased 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. Finally, StockNews.com cut shares of American Superconductor from a hold rating to a sell rating in a research report on Sunday, June 5th.

In other news, CFO John W. Kosiba, Jr. sold 13,325 shares of the stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $5.45, for a total transaction of $72,621.25. Following the completion of the sale, the chief financial officer now owns 197,232 shares of the company’s stock, valued at $1,074,914.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel P. Mcgahn sold 21,725 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $5.45, for a total value of $118,401.25. Following the sale, the chief executive officer now directly owns 700,810 shares of the company’s stock, valued at approximately $3,819,414.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,110 shares of company stock valued at $436,477. 3.50% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in AMSC. JPMorgan Chase & Co. boosted its stake in shares of American Superconductor by 74.6% during the first quarter. JPMorgan Chase & Co. now owns 138,174 shares of the technology company’s stock valued at $1,052,000 after purchasing an additional 59,028 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of American Superconductor by 228.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 83,269 shares of the technology company’s stock valued at $634,000 after acquiring an additional 57,880 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of American Superconductor by 51.5% during the first quarter. MetLife Investment Management LLC now owns 16,405 shares of the technology company’s stock valued at $125,000 after acquiring an additional 5,575 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of American Superconductor by 35.8% during the first quarter. Dimensional Fund Advisors LP now owns 318,885 shares of the technology company’s stock valued at $2,427,000 after acquiring an additional 83,984 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of American Superconductor by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,229,451 shares of the technology company’s stock valued at $9,356,000 after acquiring an additional 18,425 shares in the last quarter. 58.19% of the stock is 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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