American Superconductor (NASDAQ:AMSC) Updates Q3 2021 Earnings Guidance

American Superconductor (NASDAQ:AMSC) updated its third quarter 2021 earnings guidance on Monday. The company provided earnings per share guidance of $-$-0.200 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.130. The company issued revenue guidance of $25 million-$28 million, compared to the consensus revenue estimate of $29 million.

A number of research analysts have recently commented on the company. TheStreet upgraded American Superconductor from a d+ rating to a c- rating in a report on Friday, October 29th. Zacks Investment Research downgraded American Superconductor from a hold rating to a sell rating in a report on Wednesday, November 17th.

Shares of NASDAQ AMSC traded up $0.14 during mid-day trading on Thursday, hitting $13.68. The company had a trading volume of 103,617 shares, compared to its average volume of 374,473. American Superconductor has a 12 month low of $11.25 and a 12 month high of $31.78. The firm’s 50 day simple moving average is $15.64 and its two-hundred day simple moving average is $14.90. The stock has a market cap of $388.44 million, a price-to-earnings ratio of -14.25 and a beta of 1.14.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings results on Monday, November 8th. The technology company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). American Superconductor had a negative return on equity of 17.64% and a negative net margin of 25.87%. The company had revenue of $27.91 million during the quarter, compared to analyst estimates of $24.90 million. During the same period in the prior year, the firm earned ($0.16) EPS. Equities analysts anticipate that American Superconductor will post -0.76 earnings per share for the current year.

In other American Superconductor news, CEO Daniel P. Mcgahn sold 7,241 shares of the business’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $18.96, for a total value of $137,289.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John W. Kosiba, Jr. sold 3,766 shares of the business’s stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $18.95, for a total transaction of $71,365.70. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of AMSC. UBS Group AG raised its stake in shares of American Superconductor by 4,040.0% during the third quarter. UBS Group AG now owns 3,312 shares of the technology company’s stock worth $49,000 after buying an additional 3,232 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of American Superconductor by 163.9% during the third quarter. BNP Paribas Arbitrage SA now owns 7,137 shares of the technology company’s stock worth $104,000 after buying an additional 4,433 shares during the last quarter. Morgan Stanley increased its stake in American Superconductor by 71.8% in the third quarter. Morgan Stanley now owns 22,081 shares of the technology company’s stock valued at $322,000 after purchasing an additional 9,231 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of American Superconductor by 73.5% in the third quarter. Royal Bank of Canada now owns 47,135 shares of the technology company’s stock valued at $688,000 after buying an additional 19,970 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in American Superconductor by 7.5% in the third quarter. Bank of New York Mellon Corp now owns 129,103 shares of the technology company’s stock valued at $1,882,000 after acquiring an additional 9,042 shares during the last quarter. 57.11% of the stock is owned by institutional investors and hedge funds.

About American Superconductor

American Superconductor Corp. engages in provision of megawatt-scale power solutions, which improve the performance of the power grid and lower the cost of wind power. It operates through Grid and Wind segments. The Grid segment enables electric utilities and renewable energy project developers to connect, transmit, and distribute power with efficiency, reliability, security, and affordability.

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