American Superconductor (NASDAQ:AMSC) Updates Q2 2024 Earnings Guidance

American Superconductor (NASDAQ:AMSC) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.000- for the period, compared to the consensus earnings per share estimate of 0.000. The company issued revenue guidance of $38.0 million-$42.0 million, compared to the consensus revenue estimate of $37.5 million. American Superconductor also updated its Q2 guidance to $0.00 EPS.

American Superconductor Price Performance

Shares of AMSC stock traded up $0.19 during trading on Tuesday, hitting $20.59. 981,997 shares of the stock traded hands, compared to its average volume of 978,037. American Superconductor has a 52-week low of $5.78 and a 52-week high of $32.70. The firm has a market capitalization of $761.79 million, a P/E ratio of -52.82 and a beta of 2.17. The firm’s fifty day moving average price is $24.40 and its 200-day moving average price is $17.06.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. The firm had revenue of $42.03 million for the quarter, compared to analyst estimates of $36.75 million. American Superconductor had a negative net margin of 7.63% and a negative return on equity of 4.26%. As a group, equities research analysts expect that American Superconductor will post -0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMSC has been the subject of several recent research reports. Roth Mkm lifted their price objective on American Superconductor from $20.00 to $27.00 and gave the company a buy rating in a research note on Thursday, June 13th. Oppenheimer lifted their price target on shares of American Superconductor from $16.00 to $23.00 and gave the stock an outperform rating in a research note on Friday, May 31st.

Insider Buying and Selling at American Superconductor

In related news, CEO Daniel P. Mcgahn sold 20,559 shares of American Superconductor stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total value of $304,684.38. Following the sale, the chief executive officer now directly owns 1,057,121 shares in the company, valued at $15,666,533.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO John W. Kosiba, Jr. sold 29,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total value of $429,780.00. Following the completion of the transaction, the chief financial officer now owns 348,136 shares in the company, valued at $5,159,375.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Daniel P. Mcgahn sold 20,559 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $304,684.38. Following the completion of the sale, the chief executive officer now directly owns 1,057,121 shares in the company, valued at $15,666,533.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,724 shares of company stock valued at $2,234,333. 4.40% of the stock is owned by company insiders.

American Superconductor Company Profile

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.