AmericanIf you’re looking for a promising alternative energy stock under $10, American Superconductor Corp. may have just missed your radar. While stock price has fallen as low as $4.84 in the current 52-week period, the price today sits just over the $10 threshold. This doesn’t mean that this stock should be ignored. It’s still a relative bargain and a good bet for investors who believe in clean energy.

American Superconductor (NASDAQ: AMSC) produces wind and grid technologies that are used to deliver electricity with higher efficiency and lower costs. It supports the megawatt-scale industry, meaning it deals with large energy producers rather than smaller operators.

The company saw its revenue decline -35.63% in the 2018 fiscal year, due to a reduced demand for efficient wind turbine solutions. However, there will likely be a turnaround in the mid-term future, thanks to growing demand for clean renewable energy worldwide. The company recently received US Department of Energy funding for projects where it will work with GE to develop next-gen offshore wind turbines.

Three top analysts reported by FactSet recommend a BUY rating on this stock, with an average target price of $16. There could be strong gains within the next year for investors, and even bigger gains for those who are willing to stick with this stock long-term.

Key Data:

  • 1 Year Price Growth: 21%
  • YTD Price Growth: 08%
  • 3 Month Price Growth: -28.67%

All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.