American Superconductor (NASDAQ:AMSC) Releases Q2 Earnings Guidance

American Superconductor (NASDAQ:AMSC) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.00 for the period, compared to the consensus estimate of $0.00. The company issued revenue guidance of $38-42 million, compared to the consensus revenue estimate of $37.53 million. American Superconductor also updated its Q2 2024 guidance to 0.000- EPS.

Analyst Upgrades and Downgrades

AMSC has been the topic of a number of analyst reports. Roth Mkm lifted their price objective on shares of American Superconductor from $20.00 to $27.00 and gave the company a buy rating in a research note on Thursday, June 13th. Oppenheimer lifted their price target on shares of American Superconductor from $16.00 to $23.00 and gave the stock an outperform rating in a research note on Friday, May 31st.

American Superconductor Trading Down 9.1 %

NASDAQ AMSC traded down $1.88 during mid-day trading on Wednesday, reaching $18.71. 2,316,192 shares of the company’s stock traded hands, compared to its average volume of 986,953. American Superconductor has a 1-year low of $5.78 and a 1-year high of $32.70. The company has a fifty day simple moving average of $24.49 and a 200-day simple moving average of $17.13. The company has a market cap of $692.23 million, a price-to-earnings ratio of -47.82 and a beta of 2.17.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $42.03 million during the quarter, compared to the consensus estimate of $36.75 million. American Superconductor had a negative net margin of 7.63% and a negative return on equity of 4.26%. Equities research analysts forecast that American Superconductor will post -0.04 earnings per share for the current fiscal year.

Insider Transactions at American Superconductor

In other American Superconductor news, CFO John W. Kosiba, Jr. sold 32,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $21.68, for a total transaction of $693,760.00. Following the transaction, the chief financial officer now owns 316,136 shares of the company’s stock, valued at approximately $6,853,828.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other American Superconductor news, CFO John W. Kosiba, Jr. sold 32,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $21.68, for a total value of $693,760.00. Following the transaction, the chief financial officer now owns 316,136 shares of the company’s stock, valued at $6,853,828.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel P. Mcgahn sold 20,559 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total value of $304,684.38. Following the transaction, the chief executive officer now directly owns 1,057,121 shares of the company’s stock, valued at $15,666,533.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,724 shares of company stock valued at $2,234,333. Insiders own 4.40% 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.