Capstone Turbine Corporation (CPST) Downgraded to Hold at Zacks Investment Research

Capstone Turbine Corporation (NASDAQ:CPST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, June 29th.

According to Zacks, “Capstone Turbine Corp. develops, designs, assembles and sells Capstone MicroTurbines. Capstone MicroTurbines provide power at the site of consumption and to hybrid electric vehicles that combine a primary source battery with an auxiliary power source, such as a microturbine, to enhance performance. The Capstone MicroTurbine combines sophisticated design, engineering and technology to produce a reliable and flexible generator of electricity and heat for commercial and industrial applications. “

A number of other research analysts also recently issued reports on the company. HC Wainwright set a $2.00 price target on Capstone Turbine Corporation and gave the company a “buy” rating in a report on Wednesday, June 14th. ValuEngine downgraded Capstone Turbine Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Finally, Roth Capital set a $1.00 target price on Capstone Turbine Corporation and gave the stock a “hold” rating in a report on Monday, March 20th.

Shares of Capstone Turbine Corporation (NASDAQ:CPST) traded up 0.93% on Thursday, hitting $0.65. The company’s stock had a trading volume of 195,071 shares. The firm’s market cap is $26.99 million. Capstone Turbine Corporation has a 52 week low of $0.61 and a 52 week high of $1.97. The stock’s 50-day moving average price is $0.69 and its 200-day moving average price is $0.72.

Capstone Turbine Corporation (NASDAQ:CPST) last announced its quarterly earnings results on Tuesday, June 13th. The industrial products company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.02. Capstone Turbine Corporation had a negative net margin of 31.00% and a negative return on equity of 102.29%. The business had revenue of $22.90 million for the quarter, compared to analysts’ expectations of $22 million. During the same quarter in the prior year, the firm earned ($0.25) EPS. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. Equities analysts expect that Capstone Turbine Corporation will post ($0.28) earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in CPST. Wedbush Securities Inc. boosted its position in shares of Capstone Turbine Corporation by 17.3% in the first quarter. Wedbush Securities Inc. now owns 177,664 shares of the industrial products company’s stock worth $136,000 after buying an additional 26,189 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Capstone Turbine Corporation by 62.7% in the fourth quarter. Renaissance Technologies LLC now owns 757,109 shares of the industrial products company’s stock worth $515,000 after buying an additional 291,800 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Capstone Turbine Corporation during the fourth quarter worth about $809,000. 15.00% of the stock is currently owned by hedge funds and other institutional investors.

About Capstone Turbine Corporation

Capstone Turbine Corporation (Capstone) develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications, including cogeneration (combined heat and power), integrated combined heat and power (ICHP), and combined cooling, heat and power (CCHP), renewable energy, natural resources and critical power supply.

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