In a report released today, Carter Driscoll from B.Riley FBR maintained a Hold rating on Amer Superconductor (NASDAQ: AMSC). The company’s shares opened today at $6.32.
Driscoll observed:
“F2Q18 preview suggests business trends are gradually improving. We are previewing F2Q18 results and adjusting our model for American Superconductor (AMSC) as we see signs the wind business has stabilized as Inox Wind’s financials have improved. Overall, we see gradual improvements in AMSC’s legacy wind business and incremental progress transitioning the company towards more smart grid opportunities, along with an improved balance sheet. Wind uncertainty has been a key reason we have been on the sidelines for the past few quarters. We see several potential catalysts in 2HFY18 and are becoming more constructive on the shares. We believe AMSC will report results before market on 10AM call.”
According to TipRanks.com, Driscoll ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.6% and a 36.6% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Canadian Solar Inc, and Fuelcell Energy.
Amer Superconductor has an analyst consensus of Moderate Buy, with a price target consensus of $9.25.
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The company has a one-year high of $8.03 and a one-year low of $3.06. Currently, Amer Superconductor has an average volume of 111.5K.
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American Superconductor Corp. is a provider of megawatt-scale solutions. It engages in generating the ideas, technologies and solutions that meet the demand for smarter, cleaner better energy. The firm operates through two segments: Wind and Grid.
