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American Superconductor (AMSC) Surges 5.4%: Is This an Indication of Further Gains?
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American Superconductor (AMSC - Free Report) shares soared 5.4% in the last trading session to close at $10.24. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12% loss over the past four weeks.
The upswing came after the company discloses receiving an $8 million order for its 3-megawatt class wind turbine electrical control systems (ECS) from India’s premium wind turbine manufacturer, Inox Limited. Inox has requested for immediate delivery while American Superconductor expects to ship these ECS during 2024 calendar year.
This wind turbine component maker is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +74.1%. Revenues are expected to be $34.05 million, up 42.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For American Superconductor, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMSC going forward to see if this recent jump can turn into more strength down the road.
American Superconductor is part of the Zacks Electronics - Miscellaneous Components industry. Vishay Precision (VPG - Free Report) , another stock in the same industry, closed the last trading session 1.2% higher at $30.85. VPG has returned -5.5% in the past month.
Vishay's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.31. Compared to the company's year-ago EPS, this represents a change of -59.2%. Vishay currently boasts a Zacks Rank of #3 (Hold).
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American Superconductor (AMSC) Surges 5.4%: Is This an Indication of Further Gains?
American Superconductor (AMSC - Free Report) shares soared 5.4% in the last trading session to close at $10.24. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12% loss over the past four weeks.
The upswing came after the company discloses receiving an $8 million order for its 3-megawatt class wind turbine electrical control systems (ECS) from India’s premium wind turbine manufacturer, Inox Limited. Inox has requested for immediate delivery while American Superconductor expects to ship these ECS during 2024 calendar year.
This wind turbine component maker is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +74.1%. Revenues are expected to be $34.05 million, up 42.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For American Superconductor, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMSC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
American Superconductor is part of the Zacks Electronics - Miscellaneous Components industry. Vishay Precision (VPG - Free Report) , another stock in the same industry, closed the last trading session 1.2% higher at $30.85. VPG has returned -5.5% in the past month.
Vishay's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.31. Compared to the company's year-ago EPS, this represents a change of -59.2%. Vishay currently boasts a Zacks Rank of #3 (Hold).