American Superconductor (NASDAQ:AMSC) stock is rocketing higher on Tuesday despite a lack of news from the company.
There has been no new press release or filing with the U.S. Securities and Exchange Commission (SEC) to explain today’s rally. In that same vein, no analysts have offered new coverage of the company’s shares.
Instead, it looks like investors can thank heavy trading as the reason AMSC stock is rising this morning. As of this writing, more than 4.7 million shares have changed hands. That’s a massive jump over its daily average trading volume of about 367,000 shares.
What’s Next for AMSC Stock?
One major event for American Superconductor that investors will want to keep in mind is coming up next week. Specifically, the company will release its earnings report for its fiscal first quarter of 2023 on Aug. 9.
American Superconductor plans to release that report after markets close that day. It will follow that up with a conference call at 10:00 a.m. Eastern the following day.
As for what Wall Street is expecting from AMSC, EPS estimates for the quarter are sitting at -16 cents. Analysts are also looking for the company to report revenue of $27.75 million.
AMSC stock is up 71.5% as of Tuesday morning. The stock is also up 181.6% year-to-date (YTD) as of yesterday’s close.
Investors looking for even more of the most recent stock market news will want to keep reading!
We have all of the latest stock market news that traders need to know about on Tuesday! That includes the biggest pre-market stock movers this morning, the latest news concerning shares of Nio (NYSE:NIO) stock and more. You can find all of this news at the following links!
More Tuesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- Why Is NIO Stock Powering Higher Today?
- MFN Partners Is Betting Big on Near-Bankrupt Yellow (YELL) Stock
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
