Needham & Company Maintains a 'Hold' on American Superconductor (AMSC); Q3 Decent, Backlog Stable, But Guidance Weak

Needham & Company maintains a 'Hold' on American Superconductor (NASDAQ: AMSC).

Analyst, James Ricchiuti, said, "AMSC posted better than expected FQ3 results earlier today, benefiting from modestly higher revenues and lower op-ex. Backlog remained stable, and management guided to sequential higher revenues for FQ4, although the non-GAAP loss is expected to be larger due primarily to product mix. AMSC’s cash, equivalents and marketable securities declined to $75.5M from $108M at the end of Sept. and are expected to decline to $50M by the end of March, although management believes it has sufficient cash to fund the business for the next year. We maintain our rating and do not see an upside catalyst given the uncertain outlook with respect to the business environment and balance sheet."

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 $5.57 yesterday.

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