AMSC Advances After Increasing Fourth-Quarter Sales ForecastJustin Doom
American Superconductor Corp., a U.S. supplier of wind-turbine components, rose the most in three weeks after raising its sales forecast.
AMSC advanced 4.5 percent to $2.69 at the close in New York, the most since March 12.
The company, based in Devens, Massachusetts, expects revenue for the fourth fiscal quarter ending March 31 will be $19 million to $20 million, according to a statement released after the close of regular trading yesterday. That’s higher than AMSC’s February forecast of $18 million. It expects to have a positive cash flow within a year.