Broadwind Energy, Inc. (NASDAQ:BWEN – Get Free Report)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.85 and traded as high as $4.26. Broadwind Energy shares last traded at $4.24, with a volume of 427,214 shares changing hands.
Analyst Ratings Changes
Several brokerages have recently issued reports on BWEN. Wall Street Zen downgraded Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Broadwind Energy in a research report on Tuesday, February 10th. Finally, Weiss Ratings upgraded Broadwind Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Broadwind Energy presently has a consensus rating of “Hold” and a consensus target price of $6.00.
Check Out Our Latest Stock Report on Broadwind Energy
Broadwind Energy Price Performance
Broadwind Energy (NASDAQ:BWEN – Get Free Report) last released its earnings results on Tuesday, May 12th. The industrial products company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm had revenue of $34.06 million during the quarter, compared to analyst estimates of $32.72 million. Broadwind Energy had a negative return on equity of 2.05% and a net margin of 3.30%. As a group, equities research analysts forecast that Broadwind Energy, Inc. will post -0.08 EPS for the current fiscal year.
Hedge Funds Weigh In On Broadwind Energy
Several institutional investors have recently added to or reduced their stakes in BWEN. Marshall Wace LLP acquired a new stake in Broadwind Energy during the fourth quarter worth about $796,000. Arrowstreet Capital Limited Partnership increased its stake in Broadwind Energy by 154.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 434,861 shares of the industrial products company’s stock worth $905,000 after acquiring an additional 263,825 shares during the last quarter. Aristides Capital LLC acquired a new stake in Broadwind Energy during the fourth quarter worth about $363,000. Jane Street Group LLC increased its stake in Broadwind Energy by 821.0% during the fourth quarter. Jane Street Group LLC now owns 123,659 shares of the industrial products company’s stock worth $350,000 after acquiring an additional 110,232 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in Broadwind Energy during the fourth quarter worth about $275,000. 33.27% of the stock is currently owned by institutional investors and hedge funds.
About Broadwind Energy
Broadwind Energy, Inc (NASDAQ: BWEN) is an engineering and manufacturing company focused on the design, production and service of heavy industrial equipment for energy infrastructure and related markets. The company’s offerings include custom-engineered gearboxes, couplings, hydrodynamic drives and utility-scale wind turbine towers. In addition to new equipment, Broadwind Energy provides aftermarket repair, refurbishment and testing services to support the long-term operation of energy and industrial assets.
The company operates through two principal segments.
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