Craig Hallum Reaffirms Buy Rating for American Superconductor (NASDAQ:AMSC)

American Superconductor (NASDAQ:AMSC)‘s stock had its “buy” rating reissued by equities researchers at Craig Hallum in a report released on Tuesday, Benzinga reports. They currently have a $33.00 price objective on the technology company’s stock. Craig Hallum’s price objective points to a potential upside of 54.06% from the stock’s previous close.

A number of other brokerages have also recently weighed in on AMSC. Roth Mkm boosted their price target on shares of American Superconductor from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Oppenheimer lifted their price target on American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st.

American Superconductor Stock Up 7.4 %

American Superconductor stock traded up $1.47 during midday trading on Tuesday, reaching $21.42. The company’s stock had a trading volume of 564,800 shares, compared to its average volume of 940,206. The company has a market cap of $848.02 million, a P/E ratio of -54.92 and a beta of 2.14. The business has a 50-day simple moving average of $23.25 and a 200-day simple moving average of $18.46. American Superconductor has a fifty-two week low of $5.78 and a fifty-two week high of $32.70.

American Superconductor (NASDAQ:AMSC) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. The firm had revenue of $40.29 million during the quarter, compared to analysts’ expectations of $39.55 million. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. As a group, equities analysts forecast that American Superconductor will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On American Superconductor

Several institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank purchased a new position in shares of American Superconductor in the 2nd quarter valued at approximately $28,000. nVerses Capital LLC acquired a new position in American Superconductor in the 2nd quarter valued at $42,000. Psagot Value Holdings Ltd. Israel purchased a new position in American Superconductor during the 4th quarter worth $33,000. Canada Pension Plan Investment Board acquired a new stake in shares of American Superconductor in the 2nd quarter worth $96,000. Finally, Legato Capital Management LLC boosted its holdings in shares of American Superconductor by 10.2% in the second quarter. Legato Capital Management LLC now owns 98,787 shares of the technology company’s stock valued at $2,311,000 after acquiring an additional 9,120 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company’s stock.

American Superconductor Company Profile

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.