American Superconductor Corp Stock Price, News & Analysis

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.

American Superconductor Corporation (Nasdaq: AMSC) announced plans for an underwritten public offering of its common stock, including a 30-day option for underwriters to purchase additional shares. Proceeds are intended for general corporate purposes. The offering's size and terms are subject to market conditions. Oppenheimer & Co. Inc. is the book-running manager. A registration statement for the shares is effective with the SEC, with details to be provided in a preliminary prospectus supplement. The completion of the offering is uncertain and contingent on various market factors.

AMSC has acquired Northeast Power Systems, Inc. (NEPSI) for $26 million in cash and equity, aiming to enhance its industrial product offerings and achieve profitability independent of its wind business. NEPSI, with annual revenues of approximately $25 million and 20% operating margins, strengthens AMSC's position in the static voltage management market. AMSC anticipates its revenues for Q2 2020 to be between $20.5 million and $21.5 million, an improvement from prior guidance, and expects positive operating cash flow for Q3 2020. The company projects Q3 revenues between $22 million and $25 million, including NEPSI's contributions.

AMSC reported its fiscal Q1 2020 results, revealing revenues of $21.2 million, a significant increase from $13.8 million in Q1 2019 due to a near 80% growth in Grid segment revenues, attributed to enhanced D-VAR shipments. The company incurred a net loss of $3.4 million, equivalent to $0.16 per share, slightly improved from a net loss of $3.5 million or $0.17 per share in the previous year. Cash and equivalents stood at $62.2 million as of June 30, 2020. For Q2, AMSC anticipates revenues between $17 million to $21 million and a projected net loss not exceeding $6.5 million.

AMSC (NASDAQ: AMSC) will announce its Q1 fiscal 2020 financial results after market close on August 5, 2020. A conference call for investors and analysts will follow on August 6, 2020, at 10:00 a.m. ET, where management will discuss market trends, recent accomplishments, financial results, and future outlook. Interested parties can access the call via the company’s website or by phone. AMSC specializes in megawatt-scale power resiliency solutions with applications in grid technology and naval fleet protection.

AMSC (NASDAQ: AMSC) has entered into a delivery contract with Huntington Ingalls Industries for a high temperature superconducting (HTS)-based ship protection system, set to be integrated into the LPD 31, a San Antonio-class amphibious transport dock ship. This advanced system will enhance mine protection for the U.S. Navy, cutting the degaussing system's weight by 90% and halving energy consumption compared to traditional systems. The contract supports the ongoing development of next-generation warships intended for diverse military operations through the 21st century.

AMSC (NASDAQ: AMSC) announced the commencement of construction on a Resilient Electric Grid (REG) system by Commonwealth Edison Company (ComEd), part of Exelon Corporation. This project aims to enhance Chicago's electric grid resilience against extreme weather and other disruptions. The collaboration follows a contract under the U.S. Department of Homeland Security initiative. Key components like AMSC's Amperium® wire will help improve grid reliability. The REG system is expected to be operational by 2021, with potential for future projects in the downtown area.