Shares of American Superconductor Co. (NASDAQ:AMSC - Get Free Report) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $25.52, but opened at $28.00. American Superconductor shares last traded at $32.90, with a volume of 1,358,683 shares changing hands.
The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%.
Analyst Upgrades and Downgrades
Separately, Oppenheimer raised their price target on American Superconductor from $33.00 to $39.00 and gave the stock an "outperform" rating in a research note on Friday.
Read Our Latest Stock Report on AMSC
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. CWM LLC purchased a new position in shares of American Superconductor during the 3rd quarter valued at $57,000. SBI Securities Co. Ltd. bought a new position in shares of American Superconductor during the 4th quarter worth about $65,000. Jones Financial Companies Lllp lifted its holdings in American Superconductor by 1,083.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company's stock valued at $73,000 after purchasing an additional 2,708 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of American Superconductor by 8,670.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company's stock worth $73,000 after purchasing an additional 2,948 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in American Superconductor in the 3rd quarter valued at about $88,000. Institutional investors own 52.28% of the company's stock.
American Superconductor Trading Down 0.8 %
The firm has a fifty day simple moving average of $27.65 and a 200-day simple moving average of $25.52. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 465.64 and a beta of 2.26.
About American Superconductor
(
Get Free Report)
American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates through Grid and Wind segments. 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.
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