In a report released yesterday, Colin Rusch from Oppenheimer maintained a Buy rating on Amer Superconductor (NASDAQ: AMSC), with a price target of $7.50. The company’s shares closed yesterday at $6.48, close to its 52-week high of $7.15.
Rusch commented:
“As AMSC continues to diversify its revenue base, India wind demand remains a drag on results. We are encouraged to see the company improving its trajectory toward cash flow break-even while augmenting its cash balance with the sale of its Devens facility, which we believe provides a sufficient cash balance to fund the company’s FY18 growth initiatives. We believe AMSC has created a compelling product portfolio in the Grid segment and believe it will continue to gain traction with its Ship Protection System. We are looking for customer announcements over the coming months in both segments which should give investors better visibility to revenue growth and timeline to operational cash flow.”
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 15.0% and a 49.6% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.
Amer Superconductor has an analyst consensus of Moderate Buy, with a price target consensus of $7.50.
See today’s analyst top recommended stocks >>
Based on Amer Superconductor’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $6 million. In comparison, last year the company had a GAAP net loss of $6.93 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
