American Superconductor Bags $34M Of New Energy Power System Orders
Portfolio Pulse from Shivani Kumaresan
American Superconductor Corporation (NASDAQ:AMSC) has secured $34 million of new energy power systems orders, including various power grid stabilization solutions. The company expects to recognize about half of the revenue from these orders in fiscal year 2023. The orders represent a strong contribution from the renewables market, with wind and solar projects accounting for approximately one-third. AMSC shares are trading higher by 12.95% at $7.59.
July 18, 2023 | 3:05 pm
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American Superconductor Corporation has secured $34 million in new orders, which is expected to boost its revenues in fiscal year 2023. This news has already positively impacted the company's stock price.
The new orders worth $34 million represent a significant revenue opportunity for AMSC, which is expected to be realized in fiscal year 2023. This positive news has already resulted in a nearly 13% increase in the company's stock price, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100