Green Stock Winners: American Superconductor
NEW YORK (
) --
American Superconductor
(AMSC) - Get Report
is poised for another rally day -- after Tuesday's 5% gain -- announcing on Wednesday morning that it's received a 3 million meter order for its superconductor cable from
LS Cable
of Korea.
Shares of American Superconductor were up by more than 8.5% in early trading on Wednesday morning.
Jefferies put out a note stating that while the American Superconductor order doesn't ship until 2012, the value is in the "tens of millions of dollars" and "could be the first step toward commercialization in their superconductor division."
One of the knocks on American Superconductor has been that its success is too reliant on sales to China's wind energy giant Sinovel, which account for a majority of American Superconductor revenue. The American Superconductor story is still heavily tied to China's wind market, but the sale to Korea is a small step in much-needed geographic and product line diversification.
-- Written by Eric Rosenbaum in New York.
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Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.









