Roth Mkm Reaffirms “Buy” Rating for American Superconductor (NASDAQ:AMSC)

Roth Mkm reaffirmed their buy rating on shares of American Superconductor (NASDAQ:AMSC) in a report issued on Monday, Benzinga reports. The firm currently has a $29.00 price target on the technology company’s stock.

Separately, Craig Hallum reaffirmed a buy rating and set a $33.00 target price on shares of American Superconductor in a research note on Tuesday, September 10th.

American Superconductor Stock Performance

AMSC stock opened at $21.51 on Monday. American Superconductor has a 1 year low of $5.78 and a 1 year high of $32.70. The firm has a market cap of $795.83 million, a P/E ratio of -55.15 and a beta of 2.13. The stock has a 50-day simple moving average of $21.32 and a 200-day simple moving average of $19.45.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $40.29 million during the quarter, compared to the consensus estimate of $39.55 million. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. On average, equities research analysts predict that American Superconductor will post 0.17 EPS for the current year.

Institutional Trading of American Superconductor

Several large investors have recently made changes to their positions in the stock. GoalVest Advisory LLC acquired a new position in shares of American Superconductor during the 1st quarter worth about $404,000. Cannon Global Investment Management LLC bought a new position in American Superconductor in the 1st quarter valued at $345,000. Baillie Gifford & Co. lifted its stake in shares of American Superconductor by 21.1% in the 1st quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after purchasing an additional 440,271 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of American Superconductor in the 1st quarter valued at $1,419,000. Finally, ClariVest Asset Management LLC acquired a new stake in American Superconductor during the 1st quarter worth $1,179,000. Institutional investors own 52.28% of the company’s stock.

About American Superconductor

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.