American Superconductor (NASDAQ:AMSC) Reaches New 1-Year Low on Disappointing Earnings

American Superconductor Corporation (NASDAQ:AMSC) hit a new 52-week low on Thursday following a weaker than expected earnings announcement. The company traded as low as $24.03 and last traded at $23.9930, with a volume of 332,367 shares changing hands. The stock had previously closed at $26.26.

The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). American Superconductor had a return on equity of 27.41% and a net margin of 42.56%. The company had revenue of $94.04 million for the quarter, compared to the consensus estimate of $87.32 million. During the same quarter in the prior year, the company posted $0.20 EPS. American Superconductor’s revenue was up 42.8% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Freedom Capital upgraded American Superconductor to a “strong-buy” rating in a research report on Tuesday, July 21st. Wall Street Zen raised shares of American Superconductor from a “sell” rating to a “hold” rating in a report on Sunday, August 30th. Weiss Ratings downgraded shares of American Superconductor from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Finally, Roth Capital reissued a “buy” rating and issued a $55.00 price target (down from $58.00) on shares of American Superconductor in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMSC. AWM Investment Company Inc. acquired a new position in American Superconductor during the second quarter worth $39,501,000. First Trust Advisors LP increased its holdings in shares of American Superconductor by 14.0% in the first quarter. First Trust Advisors LP now owns 778,268 shares of the technology company’s stock valued at $26,344,000 after purchasing an additional 95,301 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of American Superconductor by 21.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 658,297 shares of the technology company’s stock worth $22,278,000 after acquiring an additional 118,044 shares during the period. Emerald Mutual Fund Advisers Trust boosted its holdings in American Superconductor by 0.8% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 438,875 shares of the technology company’s stock valued at $14,856,000 after purchasing an additional 3,629 shares during the last quarter. Finally, Ranger Investment Management L.P. acquired a new stake in American Superconductor during the second quarter worth $16,823,000. Institutional investors and hedge funds own 52.28% of the company’s stock.

American Superconductor Trading Down 8.2%

The stock has a market capitalization of $1.17 billion, a PE ratio of 7.97 and a beta of 3.32. The firm’s fifty day moving average is $28.57 and its 200-day moving average is $35.08.

About American Superconductor

American Superconductor Corporation (NASDAQ:AMSC) develops power-resiliency solutions that help electric utilities, industrial companies, renewable-energy developers and defense organizations improve the reliability, efficiency and performance of electrical systems. The company combines power electronics, software and engineering services to address challenges involving grid stability, power quality and renewable-energy integration.

AMSC’s Gridtec business offers solutions such as voltage-regulation and power-quality systems, grid interconnection technologies, and resilient-grid products designed to support electric transmission and distribution networks.