H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Capstone Turbine Corp (NASDAQ: CPST) today and set a price target of $2. The company’s shares opened today at $1.04.
Dayal noted:
“We believe CPST is positioned favorably in the distributed generation industry, the annual installed capacity of which is expected to grow from 87.3GW in 2014 to 165.5GW in 2023 (according to Navigant Research). We expect CPST to continue to grow its market share in this growing market and estimate revenues to grow from $96.3M in FY2024, growing at a five-year CAGR of 17.0%. We have used a DCF analysis to arrive at a price target of $2.00 per share for the company.”
According to TipRanks.com, Dayal is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.4% and a 39.5% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Superconductor Technologies Inc, Pointer Telocation Ltd, and Pacific Ethanol.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Capstone Turbine Corp with a $2.50 average price target.
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Based on Capstone Turbine Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.9 million. In comparison, last year the company had a GAAP net loss of $3.67 million.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CPST in relation to earlier this year.
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Capstone Turbine Corp. develops, manufactures, markets and services micro turbine technology solutions for use in stationary distributed power generation applications, including cogeneration combined heat and power, integrated combined heat and power, and combined cooling, heat and power, renewable energy, natural resources and critical power supply.
