Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of power technologist American Superconductor (Nasdaq: AMSC) are powering up today, to the tune of 10.6% above Monday's closing price.

So what: The company delivered a classic beat-and-raise performance in its second-quarter report. Management highlighted record gross margins and an unbroken streak of revenue growth in fifteen consecutive quarters, powered by increasing demand for wind and solar power solutions.

Now what: You can't really argue with the brilliant GAAP results, but Foolish investors would also do well to a second look at American Superconductor's cash flows. Due to wild swings in accounts receivable, the company's cash comes in fits and starts; this quarter was an upswing, but the general trend is downward these days. American Superconductor is not a cheap stock today despite rising a modest 10.5% over the past year, so the two-star CAPS rating (out of five) seems motivated, all things considered.

Interested in more info on American Superconductor? Add it to your watchlist by clicking here.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.