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

Craig Hallum reaffirmed their buy rating on shares of American Superconductor (NASDAQ:AMSC) in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a $33.00 price objective on the technology company’s stock.

AMSC has been the topic of several other research reports. Oppenheimer upped their target price on American Superconductor from $16.00 to $23.00 and gave the company an outperform rating in a report on Friday, May 31st. Roth Mkm increased their price objective on shares of American Superconductor from $27.00 to $29.00 and gave the company a buy rating in a research note on Thursday, August 8th.

American Superconductor Stock Down 1.1 %

Shares of NASDAQ AMSC opened at $21.68 on Tuesday. The firm has a 50-day moving average price of $23.05 and a 200 day moving average price of $18.58. American Superconductor has a 52 week low of $5.78 and a 52 week high of $32.70. The stock has a market capitalization of $802.12 million, a price-to-earnings ratio of -55.59 and a beta of 2.13.

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

Institutional Investors Weigh In On American Superconductor

Large investors have recently bought and sold shares of the stock. Amalgamated Bank acquired a new position in shares of American Superconductor in the second quarter worth $28,000. nVerses Capital LLC acquired a new position in American Superconductor in the 2nd quarter valued at about $42,000. Psagot Value Holdings Ltd. Israel purchased a new position in American Superconductor in the 4th quarter valued at about $33,000. Canada Pension Plan Investment Board purchased a new stake in shares of American Superconductor during the second quarter worth about $96,000. Finally, Legato Capital Management LLC raised its position 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 buying an additional 9,120 shares during the last quarter. Institutional investors and hedge funds 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.