American Superconductor Adds 11% On Securing $34 Mln Orders

(RTTNews) - Shares of American Superconductor Corporation (AMSC) are rising more than 11% Tuesday morning after the energy technologies company announced new energy power systems orders worth $34 million.

About half of the revenue from the orders is expected to be recognized in fiscal year 2023.

The orders include enclosed capacitor banks, harmonic filters, voltage controllers, rectifiers, sag mitigation solutions, and volt var optimizers, the company said.

"Fiscal year 2023 started with strong orders momentum for our new energy power systems," said Daniel P. McGahn, Chairman, President and CEO, AMSC.

AMSC is at $7.48 currently. It has traded in the range of $3.20 - $7.62 in the last 52 weeks.