American Superconductor’s (AMSC) “Buy” Rating Reiterated at Roth Mkm

American Superconductor (NASDAQ:AMSC)‘s stock had its “buy” rating reissued by research analysts at Roth Mkm in a report issued on Monday, Benzinga reports. They presently have a $29.00 price objective on the technology company’s stock. Roth Mkm’s target price would indicate a potential upside of 35.96% from the stock’s previous close.

Separately, Craig Hallum restated a “buy” rating and issued a $33.00 price objective on shares of American Superconductor in a research note on Tuesday, September 10th.

American Superconductor Stock Performance

Shares of American Superconductor stock opened at $21.33 on Monday. American Superconductor has a 52-week low of $5.78 and a 52-week high of $32.70. The stock’s 50-day simple moving average is $21.48 and its 200 day simple moving average is $19.42. The stock has a market capitalization of $789.17 million, a P/E ratio of -54.69 and a beta of 2.13.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data 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. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. The business had revenue of $40.29 million for the quarter, compared to analysts’ expectations of $39.55 million. Equities research analysts forecast that American Superconductor will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On American Superconductor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of American Superconductor by 2.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 39,146 shares of the technology company’s stock valued at $916,000 after buying an additional 828 shares during the period. Amalgamated Bank bought a new position in shares of American Superconductor in the second quarter worth approximately $28,000. nVerses Capital LLC bought a new position in shares of American Superconductor in the second quarter worth approximately $42,000. Canada Pension Plan Investment Board bought a new position in shares of American Superconductor in the second quarter worth approximately $96,000. Finally, Legato Capital Management LLC increased 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 worth $2,311,000 after purchasing an additional 9,120 shares during the last quarter. 52.28% of the stock is currently owned by institutional investors.

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.