|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||14.12 - 14.82|
|52 Week Range||4.40 - 18.50|
|Beta (5Y Monthly)||0.99|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 04, 2020 - Nov 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||18.75|
Does American Superconductor (AMSC) have what it takes to be a top stock pick for momentum investors? Let's find out.
Shares of American Superconductor (NASDAQ: AMSC) fell as much as 15.1% in trading Wednesday after the energy solutions provider priced a new share offering. Shares of the renewable energy stock are still down 14.3% at 10:10 a.m. EDT. Management may just be using the high stock price as an excuse to raise capital for the business long term.
Shares of American Superconductor Corp. tumbled 12% in premarket trading Thursday, after the power grid and wind power company said it public stock offering priced at deep discount. The company sold 3.67 million shares, representing about 16% of the shares outstanding, at a price of $15.00 a share, which is 12.2% below Wednesday's closing price of $17.10, to raise $55.05 million. The offering comes a week after the stock closed at a 6-year high $18.25. Year to date, the stock has more than doubled (up 117.8%) while the S&P 500 has gained 6.3%.