Tag Archives: american superconductor

American Superconductor (AMSC) CEO Steps Aside Amidst Turmoil

American Superconductor (AMSC) CEO Greg Yurek was planning to retire for several months according to the company, but the recent lack of transparency, pending lawsuits and a plummeting stock price has no doubt led to a bit earlier than expected retirement for CEO and founder Greg Yurek.  Current President and COO Daniel McGahn will take over as CEO while Yurek will continue to serve as Chairman of the Board for a few more months, then … Read the rest

American Superconductor (AMSC) Crashes On Sinovel Refusal Of Shipments, Slashes Outlook

It’s not a pleasant evening for the Douglas family which recently purchased 10’s of millions in AMSC stock.. or any shareholder for that matter.  The stock is crashing 40% in after hours trading after the company revealed that its main customer Sinovel has refused shipments forcing the company to slash guidance.  American Superconductor now expects to report a significant quarterly loss on both a GAAP and non GAAP basis.

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Douglas Family Purchases Another $20M Of American Superconductor (AMSC) Stock

The Douglas family has controlled a significant portion of American Superconductor (AMSC) stock for a long time and they aren’t done yet increasing their share of the company.  According to InsiderCow.com the family has purchased around another $20 million of AMSC stock over the past week.  Late last year and on into January of this year, the family purchased around $40 million in AMSC stock.  I can’t say they are necessarily great market timers at … Read the rest

American Superconductor (AMSC) Plunged Following Acquisition, Lowered Guidance

Shares of American Superconductor (AMSC) plunged to another 52 week low this morning with heavy volume after the company announced a $265 million acquisition of Finnish company The Switch and subsequently lowered guidance in the short term.  CEO Greg Yurek calling 2011 a “transition year” likely didn’t help the stock either. 

Let’s start with the acquisition news.  Sure, in the short term the financials take a hit, but it appears AMSC acquired a key technology … Read the rest

American Superconductor (AMSC) Lands Another Chinese Order For Wind Turbine Electrical Components

American Superconductor (AMSC) has landed initial wind turbine electrical control system orders from China’s third largest wind turbine manufacturer, Dongfang Turbine.  The electrical components will be used in DTC’s 3MW and 5MW full conversion wind turbines, which were jointly designed and developed by AMSC.  Shipments will begin this year, but won’t be shipped in larger quantities until next year.  No word on the financials of the deal or exactly how many systems would be shipped.… Read the rest

American Superconductor (AMSC) Surges On Strong Earnings, Raises EPS Guidance

Shares of American Superconductor (AMSC) surged nearly 10% today after the company reported strong earnings results this morning, beating analyst estimates in the process.  The company reported a non GAAP EPS of .40/share on revenues of $114 million.  That beat the analyst estimates of .33 in EPS and $113 in revenue and represents quarter over quarter growth of 100% and 42% respectively.  The CEO has previously stated that their goal had been to achieve $1 … Read the rest

American Superconductor (AMSC) Adds Another Order From India’s Inox Wind

American Superconductor (AMSC) has received a $9 million follow-on order for wind turbine electrical control systems from Inox Wind Limited of India.  AMSC continues to expand its business in India with an initial order from Inox back in August for 17 sets of electrical control systems and another $20 million order from Ghodawat Energy in April.  Inox will use the systems in its 2MW wind turbines and has the ability to manufacture 400 annually.  India … Read the rest

American Superconductor (AMSC) Announces New UK Orders For Wind Farm Connection Systems

American Superconductor (AMSC) announced it received several new orders for its D-VAR wind farm connection systems in the UK bringing the total number of wind farms using AMSC’s system to 15 in the UK.  AMSC sold a record number of D-VAR systems in 2010, more than doubling its 2009 level.  The D-VAR systems allow for voltage control and greater efficiencies within wind farms.

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“The United … Read the rest

American Superconductor (AMSC) Gets $10 Million Wind Turbine Electrical Order

American Superconductor (AMSC) announced this morning that it received an order of more than $10 million for wind turbine electrical control systems from South Korea’s Doosan Heavy Industries for use in Doosan’s 3MW wind turbines.  Shipping of the components will begin in about six months and continue for a year.

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“Doosan has decades of experience in the power and offshore arenas, which will serve them … Read the rest

American Superconductor (AMSC) Hit On Negative Barrons Article

American Superconductor (AMSC) took a hit from Barron’s over the weekend and a hit to its stock price Monday as a result with the stock down 8%.  Barron’s believes the company relies too much on a single customer.  That single customer happens to be Sinovel which is the largest wind turbine producer in China, but Barron’s is concerned about the risk involved with signs that the boom in China wind power is slowing while AMSC’s … Read the rest