Zacks Investment Research Downgrades Broadwind Energy (BWEN) to Sell

Zacks Investment Research cut shares of Broadwind Energy (NASDAQ:BWEN) from a hold rating to a sell rating in a report published on Monday.

According to Zacks, “Broadwind Energy is a precision manufacturer of structures, equipment & components for clean tech and other specialized applications. Their most significant presence is within the U.S. wind energy industry, although they have diversified into other industrial markets in order to improve their capacity utilization and reduce their exposure to uncertainty related to favorable governmental policies currently supporting the U.S. wind energy industry. Within the U.S. wind energy industry, they provide products primarily to wind turbine manufacturers. Outside of the wind energy market, they provide precision gearing and specialty weldments to a broad range of industrial customers for oil and gas, mining, steel and other industrial applications. “

Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Broadwind Energy from a sell rating to a strong sell rating in a research report on Sunday, December 31st. Roth Capital set a $5.00 target price on shares of Broadwind Energy and gave the stock a buy rating in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $6.50.

Shares of Broadwind Energy (NASDAQ:BWEN) opened at $2.30 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.43. Broadwind Energy has a 1 year low of $2.28 and a 1 year high of $9.80. The company has a market cap of $36.65, a P/E ratio of 9.58 and a beta of 1.34.

Several hedge funds have recently modified their holdings of BWEN. Bank of New York Mellon Corp grew its position in shares of Broadwind Energy by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 59,647 shares of the industrial products company’s stock valued at $301,000 after acquiring an additional 1,004 shares during the period. JPMorgan Chase & Co. grew its position in shares of Broadwind Energy by 186.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,038 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 13,691 shares during the period. Vanguard Group Inc. grew its position in shares of Broadwind Energy by 63.9% during the 2nd quarter. Vanguard Group Inc. now owns 589,115 shares of the industrial products company’s stock valued at $2,969,000 after acquiring an additional 229,664 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Broadwind Energy by 222.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 353,955 shares of the industrial products company’s stock valued at $1,784,000 after acquiring an additional 244,298 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Broadwind Energy by 151,677.6% during the 2nd quarter. Royal Bank of Canada now owns 148,742 shares of the industrial products company’s stock valued at $749,000 after acquiring an additional 148,644 shares during the period. 55.41% of the stock is owned by hedge funds and other institutional investors.

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Broadwind Energy Company Profile

Broadwind Energy, Inc provides technologically advanced products and services to energy, mining and infrastructure sector customers, primarily in the United States. The Company is engaged primarily in United States wind energy industry. The Company operates through two segments: Towers and Weldments, and Gearing.

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