American Superconductor Corp Stock Price, News & Analysis

AMSC has acquired Neeltran, Inc. for $4.5 million in cash and $4.3 million in stock, expanding its industrial sector offerings. This acquisition is expected to enhance AMSC's product lineup, potentially increasing sales content by 2-3x and expanding its total market to nearly $3B. AMSC anticipates the deal will generate positive operating cash flow and be accretive to earnings per share within 12 months. Neeltran's expertise in rectifiers and transformers aligns with AMSC's goals in the growing electric vehicle market.

AMSC has secured $15 million in new energy power system orders, primarily for its D-VAR® STATCOM and D-VAR VVO® systems, aimed at enhancing grid stability for the renewable and industrial sectors in the U.S. The revenue from these orders is anticipated to be recognized in fiscal year 2021. The company expects continued growth in its Grid business, as stated by CEO Daniel P. McGahn, who emphasized AMSC's capability to support power quality and expand grid capacity for renewable energy.

AMSC (Nasdaq: AMSC) reported third-quarter fiscal 2020 revenues of $23.6 million, up from $17.9 million year-over-year, driven by increased revenues in both Grid and Wind segments. The net loss for the quarter was $7.9 million ($0.31 per share), slightly improved from a net loss of $6.8 million ($0.32 per share) in Q3 2019. The company's cash and equivalents rose to $84.4 million by December 31, 2020. For Q4, AMSC anticipates revenues of $18 million to $22 million with expected net losses not exceeding $8 million.

AMSC (NASDAQ: AMSC) plans to release its third quarter fiscal year 2020 financial results on February 3, 2021, after market close. A conference call will follow on February 4, 2021, at 10:00 a.m. ET, where management will discuss market trends, recent accomplishments, financial results, and business outlook. Investors can listen to the call via the company's website or by phone. AMSC is a provider of power resiliency solutions, optimizing grid performance and enhancing the operational safety of naval fleets.

AMSC has secured its fourth contract for a high temperature conductor (HTS)-based ship protection system with the U.S. Navy to be used on the USS Richard M. McCool Jr. (LPD-29). This contract highlights AMSC's commitment to enhancing naval fleet capabilities by reducing magnetic signatures to protect against undersea mines. The San Antonio-class ships are crucial for various military operations, expected to serve throughout the 21st century. AMSC continues to innovate in power resiliency solutions, aiming to bolster military and renewable energy sectors.

AMSC reported its financial results for Q2 FY2020, revealing revenues of $21.1 million, up from $14.0 million in Q2 FY2019, largely due to increased D-VAR shipments. However, the company incurred a net loss of $3.7 million or $0.17 per share, compared to a $0.8 million loss in the prior year. For Q3 FY2020, revenue is projected between $22 million and $25 million, but net loss may reach $6.0 million. AMSC anticipates maintaining cash reserves over $80 million by year-end.

AMSC has announced $15 million in new energy power system orders, emphasizing the demand from the renewable energy sector in the U.S. The orders include AMSC’s D-VAR® STATCOM and D-VAR VVO® systems, as well as NEPSI metal enclosed capacitor banks. These systems enhance voltage regulation and power quality for wind and solar energy integration into the grid. Revenue from these orders is anticipated to be recognized in fiscal year 2021, with the CEO stating that this positions their Grid business for growth.

AMSC (NASDAQ: AMSC) will announce its second quarter fiscal year 2020 financial results on November 4, 2020, post-market close. Following this, management will host a conference call on November 5, 2020, at 10:00 a.m. ET to discuss market trends, recent accomplishments, financial results, and business outlook. Investors can access the call via the AMSC website or by phone. AMSC specializes in power resiliency solutions for the grid and naval fleets, aiming for enhanced operational efficiency and reliability.

American Superconductor Corporation (Nasdaq: AMSC) has announced a public offering of 3,670,000 shares of common stock priced at $15.00 per share, with expected gross proceeds of $55,050,000. The funds will support general corporate and working capital needs. An option for underwriters to purchase an additional 550,500 shares is included. The offering is set to close around October 26, 2020, subject to standard conditions. Oppenheimer & Co. Inc. is the lead manager, with Craig-Hallum and Roth Capital acting as co-managers.