AMSC closed in New York down 13.5% to $1.73 per share despite assurances from executives that $11.7m in quarterly revenue was at a “low point” for the new fiscal year.
The US company is pinning its wind technology division’s turnaround hopes and future profitability on future order growth from licensees in China and India, and a new 2MW turbine design.
AMSC has struggled to regain momentum since 2011 when it broke ties with Sinovel, formerly its largest customer and now bitter adversary in a protracted and slow-moving legal battle in both China and the US.
