American Superconductor (NASDAQ:AMSC) Stock Price Target Cut by Oppenheimer

Key Points

• Oppenheimer cut its price target on American Superconductor from $71 to $52 but maintained an “outperform” rating; the new target implies 127.72% upside from the cited share price.
• Shares fell 4.8% to $22.84 on Friday, near their 12-month low. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $53.50.
• Quarterly revenue rose 42.8% year over year to $94.04 million, beating estimates, while EPS of $0.19 narrowly missed the $0.20 consensus.

American Superconductor (NASDAQ:AMSC - Get Free Report) had its price objective dropped by analysts at Oppenheimer from $71.00 to $52.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an "outperform" rating on the technology company's stock. Oppenheimer's price objective would suggest a potential upside of 127.72% from the company's current price.

Several other equities research analysts have also recently commented on AMSC. Wall Street Zen raised American Superconductor from a "sell" rating to a "hold" rating in a report on Sunday, August 30th. Freedom Capital upgraded American Superconductor to a "strong-buy" rating in a research report on Tuesday, July 21st. Weiss Ratings lowered American Superconductor from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, October 29th. Finally, Roth Capital restated a "buy" rating and issued a $55.00 target price (down from $58.00) on shares of American Superconductor in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, American Superconductor presently has an average rating of "Moderate Buy" and a consensus target price of $53.50.

American Superconductor Trading Down 4.8%

AMSC traded down $1.15 on Friday, reaching $22.84. The stock had a trading volume of 405,612 shares, compared to its average volume of 1,003,669. The business's 50-day moving average price is $28.46 and its two-hundred day moving average price is $35.04. The company has a market cap of $1.11 billion, a P/E ratio of 7.69 and a beta of 3.32. American Superconductor has a 12-month low of $22.76 and a 12-month high of $60.18.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). American Superconductor had a net margin of 38.63% and a return on equity of 24.34%. The company had revenue of $94.04 million during the quarter, compared to analyst estimates of $87.32 million. During the same period in the prior year, the business posted $0.20 EPS. American Superconductor's revenue was up 42.8% compared to the same quarter last year. As a group, analysts predict that American Superconductor will post 0.37 earnings per share for the current year.

Institutional Trading of American Superconductor

Hedge funds and other institutional investors have recently made changes to their positions in the company. AWM Investment Company Inc. acquired a new position in shares of American Superconductor in the 2nd quarter worth approximately $39,501,000. Ranger Investment Management L.P. acquired a new stake in American Superconductor in the 2nd quarter valued at approximately $16,823,000. Sei Investments Co. increased its holdings in American Superconductor by 184.8% in the 1st quarter. Sei Investments Co. now owns 224,436 shares of the technology company's stock valued at $7,597,000 after purchasing an additional 145,626 shares during the last quarter. Dimensional Fund Advisors LP raised its position in American Superconductor by 21.8% in the first quarter. Dimensional Fund Advisors LP now owns 658,297 shares of the technology company's stock valued at $22,278,000 after purchasing an additional 118,044 shares during the period. Finally, First Trust Advisors LP raised its position in 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 period. Institutional investors and hedge funds own 52.28% of the company's stock.

American Superconductor Company Profile

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.

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