American Superconductor (NASDAQ:AMSC) Updates Q3 Earnings Guidance

American Superconductor (NASDAQ:AMSC) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.05 for the period, compared to the consensus earnings per share estimate of $0.07. The company issued revenue guidance of $55-60 million, compared to the consensus revenue estimate of $56.03 million. American Superconductor also updated its Q3 2024 guidance to 0.050- EPS.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $29.00 price target on shares of American Superconductor in a research report on Monday, September 30th. Craig Hallum restated a “buy” rating and set a $33.00 target price on shares of American Superconductor in a report on Tuesday, September 10th.

American Superconductor Price Performance

Shares of AMSC traded up $4.02 during mid-day trading on Friday, hitting $28.54. 2,745,563 shares of the company’s stock were exchanged, compared to its average volume of 997,881. The company has a market cap of $1.13 billion, a PE ratio of -570.69 and a beta of 2.14. American Superconductor has a 52 week low of $6.73 and a 52 week high of $32.70. The company has a 50-day simple moving average of $22.39 and a 200 day simple moving average of $21.04.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. The company had revenue of $40.29 million during the quarter, compared to analysts’ expectations of $39.55 million. American Superconductor had a negative net margin of 0.49% and a positive return on equity of 9.38%. On average, analysts anticipate that American Superconductor will post 0.18 earnings per share for the current year.

American Superconductor Company Profile

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates through Grid and Wind segments. 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.