Needham is out reiterating its Buy rating on American Superconductor (AMSC) and has a $40 price target.
Hat tip to Street Insider for the analyst comment: “Two separate announcements this week in AMSC’s fast-growing wind power business, and its long-term growth engine, the superconducting wire business, have increased our confidence in the company’s growth prospects. The announcement earlier this week of an initial order from Sinovel … Read the rest
American Superconductor (AMSC) and LS Cable of South Korea, who is the third largest power cable manufacturer in the world, have announced an expanded superconductor power cable business alliance. The first began working together last year and this expansion calls the collaborative deployment of more than 30 miles of smart grid power cables over the next five years.
The power cable systems manufactured by LS … Read the rest
Two noteworthy analyst notes this morning on American Superconductor (AMSC) and Energy Conversion Devices (ENER).
Wedbush maintains its Underperform rating on ENER and is lowering the price target from $9 to $7. Hat tip to Street Insider for the following analyst note:
“We believe ENER will continue to struggle as oversupply conditions continue and demand for niche products like flexible BIPV remains below expectations. While we … Read the rest
Sinovel is expected to begin installing its 5MW wind turbine prototypes within the next year with American Superconductor (AMSC) supplying the electrical guts of the system. AMSC announced it has received an initial order and expects to ship it out in the second half of this year.
Sinovel is China’s largest wind turbine manufacturer, shipping out 2400 1.5MW and 100 3MW turbines last year. It’s next generation … Read the rest
American Superconductor has just announced that it has received a follow-on order from CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd. (CSR-ZELRI). The wind turbine core electrical component order, worth $10 million, is the fifth order that CSR-ZELRI has placed with AMSC. AMSC will deliver the components to CSR-ZELRI by the end of the calendar year.
In a , Dan McGahn, president and chief operating officer of AMSC, commented on the news:
American Superconductor (AMSC) continued selling off today following its strong earnings report. Traders obviously don’t believe it was a strong enough report to support the high valuation and so the stock drops into a much needed base. It looks to me like it’s headed to that 200 day moving average just below the $32 level.
The selling continues today despite two upgrades – from Janco Partners and Brean Murray.
American Superconductor (AMSC) reported another strong quarter this morning, handily beating Wall St estimates once again. The company reported a Q3 EPS of $0.20 which beat estimates by .06/share on revenues of $80.7 million which was also better than what Wall St was expecting. That’s a 100% increase in revenues from the year ago quarter and a turn to profitability (reported a loss of -.18/share in year ago quarter), but the stock is selling on … Read the rest
American Superconductor (AMSC) is announcing this morning another order out of China, this time a $70 million order from Shenyang Blower Works for wind turbine electrical control systems. The order is the largest initial order for the electrical control systems AMSC has ever received.
SBW will use the parts in the 2MW doubly fed induction turbines developed with AMSC. The company plans to begin putting up the turbines next month, but the parts from AMSC … Read the rest
American Superconductor (AMSC) received an order for a fair amount of stuff this morning. Stuff, specifically meaning 100 sets of wind turbine electrical components to be used in 2MW turbines by China’s XJ Group power. The company is ramping up production and now has an annual capacity of 1000MW, making them the 3rd AMSC customer to enter volume production of advanced wind turbines in China. Considering XJ Group’s parent company State Grid supplies power … Read the rest
American Superconductor (AMSC) is announcing it has sold a 4th D-VAR power grid system in China to Xiamen Red Phase instruments who the company also announced would be a new sales partner in southern China. It’s expected to be delivered in July. The D-VAR increases the reliability of the power grid through voltage regulation, easing congestion and preventing blackouts. It’s used in over 50 wind farms worldwide.
AMSC CEO Greg Yurek commented, “We are very … Read the rest
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