American Superconductor (NASDAQ:AMSC) Releases Earnings Results, Misses Expectations By $0.01 EPS

American Superconductor (NASDAQ:AMSC) released its earnings results on Wednesday. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01), FiscalAI reports. American Superconductor had a return on equity of 27.41% and a net margin of 42.56%. The business had revenue of $94.04 million for the quarter, compared to analyst estimates of $87.32 million. During the same period in the prior year, the business earned $0.20 EPS. The company’s revenue for the quarter was up 42.8% on a year-over-year basis.

American Superconductor Stock Performance

NASDAQ:AMSC traded down $2.08 during trading hours on Thursday, reaching $24.18. The stock had a trading volume of 199,081 shares, compared to its average volume of 996,927. The company has a 50 day moving average price of $28.57 and a two-hundred day moving average price of $35.08. The stock has a market capitalization of $1.17 billion, a PE ratio of 8.08 and a beta of 3.32. American Superconductor has a 52 week low of $24.03 and a 52 week high of $60.18.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Roth Capital restated a “buy” rating and issued a $55.00 target price (down from $58.00) on shares of American Superconductor in a research note on Monday, August 10th. Freedom Capital raised American Superconductor to a “strong-buy” rating in a research note on Tuesday, July 21st. Wall Street Zen raised shares of American Superconductor from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Finally, Weiss Ratings cut American Superconductor from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

About American Superconductor

American Superconductor Corporation (NASDAQ:AMSC) develops power-resiliency solutions that help electric utilities, industrial companies, renewable-energy developers and defense organizations improve the reliability, efficiency and performance of electrical systems. The company combines power electronics, software and engineering services to address challenges involving grid stability, power quality and renewable-energy integration.

AMSC’s Gridtec business offers solutions such as voltage-regulation and power-quality systems, grid interconnection technologies, and resilient-grid products designed to support electric transmission and distribution networks.