Needham & Company Maintains a 'Hold' on American Superconductor (AMSC); Q4 Review
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Price: $2.68 --0%
Rating Summary:
1 Buy, 9 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 9 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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Needham & Company maintains a 'Hold' on American Superconductor (NASDAQ: AMSC).
Analyst, James Ricciuti, said, "AMSC yesterday posted better than expected revenues and a smaller loss for F4Q. Backlog was down modestly q/o/q, with mgmt noting ~one-third of its total backlog, or ~$95M, is scheduled to ship in the current FY, or ~80% of our current full-year estimate. AMSC’s cash, equivalents and marketable securities declined to $66.2M from $75.5M at the end of Dec. Subsequent to FQ4, AMSC raised $35M from separate financings ($25M of convertible notes and $10M senior secured term loan). While AMSC has made progress improving its operations and financial position in the past year, we remain concerned about the gross margin outlook and the uncertain timing for returning to profitability."
"We now look for a non-GAAP loss of $0.92 for the current FY (from 0.87 loss), versus our earlier $0.87 loss estimate on revenues of $115M. We are initiating an out-year estimate, which assumes a non-GAAP loss of $0.70 on revenues of $130M."
For an analyst ratings summary and ratings history on American Superconductor click here. For more ratings news on American Superconductor click here.
Shares of American Superconductor closed at $4.05 yesterday, with a 52 week range of $3.21-$9.15.
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Analyst, James Ricciuti, said, "AMSC yesterday posted better than expected revenues and a smaller loss for F4Q. Backlog was down modestly q/o/q, with mgmt noting ~one-third of its total backlog, or ~$95M, is scheduled to ship in the current FY, or ~80% of our current full-year estimate. AMSC’s cash, equivalents and marketable securities declined to $66.2M from $75.5M at the end of Dec. Subsequent to FQ4, AMSC raised $35M from separate financings ($25M of convertible notes and $10M senior secured term loan). While AMSC has made progress improving its operations and financial position in the past year, we remain concerned about the gross margin outlook and the uncertain timing for returning to profitability."
"We now look for a non-GAAP loss of $0.92 for the current FY (from 0.87 loss), versus our earlier $0.87 loss estimate on revenues of $115M. We are initiating an out-year estimate, which assumes a non-GAAP loss of $0.70 on revenues of $130M."
For an analyst ratings summary and ratings history on American Superconductor click here. For more ratings news on American Superconductor click here.
Shares of American Superconductor closed at $4.05 yesterday, with a 52 week range of $3.21-$9.15.
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