American Superconductor Corporation (AMSC) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $-0.64 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.28. Analysts had a consensus of $-0.92. The company posted revenue of $13.30 million in the period, compared to analysts expectations of $13.52 million. The company’s revenue was down -43.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.72 EPS.
Many Wall Street Analysts have commented on American Superconductor Corporation. FBR Capital Initiated American Superconductor Corporation on May 19, 2016 to “Outperform”, Price Target of the shares are set at $14.
American Superconductor Corporation opened for trading at $9.02 and hit $9.38 on the upside on Monday, eventually ending the session at $9.3, with a gain of 3.56% or 0.32 points. The heightened volatility saw the trading volume jump to 99,998 shares. Company has a market cap of $131 M.
In a different news, on May 20, 2016, James F Maguire (EVP, Operations) sold 29,938 shares at $10.15 per share price. According to the SEC, on Apr 7, 2016, David A Henry (EVP, CFO & Treasurer) sold 12,545 shares at $8.21 per share price. On Feb 6, 2015, John Vander Sande (director) sold 5,000 shares at $1.15 per share price, according to the Form-4 filing with the securities and exchange commission.
American Superconductor Corporation (AMSC) is a provider of megawatt-scale solutions. The Company conducts its business through two segments: Wind and Grid. Through its Windtec Solutions brand the Wind business segment enables manufacturers to field wind turbines. Through the Gridtec Solutions brand the Grid business segment enables electric utilities and renewable energy project developers to connect transmit and distribute power. AMSC supplies power electronics and control systems licenses its engineered wind turbine designs and provides customer support services to wind turbine manufacturers. AMSC provides a range of power electronics and software-based control systems and transmission planning services. The Company also sells grid interconnection solutions for wind farms and solar power plants power quality systems and transmission and distribution cable systems. AMSC also sells ship protection products to the United States Navy through its Grid business segment.