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. “
Several other brokerages have also recently weighed in on BWEN. ValuEngine cut shares of Broadwind Energy from a buy rating to a hold rating in a research note on Tuesday, August 6th. Roth Capital increased their price target on shares of Broadwind Energy from $2.50 to $2.75 and gave the company a buy rating in a research note on Monday, April 29th.
Shares of Broadwind Energy stock opened at $1.65 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.32 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $26.35 million, a price-to-earnings ratio of -1.94 and a beta of 1.88. Broadwind Energy has a 1-year low of $1.15 and a 1-year high of $2.59. The firm’s 50-day moving average price is $2.05 and its two-hundred day moving average price is $1.84.
Broadwind Energy (NASDAQ:BWEN) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported ($0.06) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). The firm had revenue of $41.17 million for the quarter, compared to analysts’ expectations of $41.50 million. Broadwind Energy had a negative net margin of 10.78% and a negative return on equity of 19.96%. As a group, equities research analysts predict that Broadwind Energy will post -0.21 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Broadwind Energy by 41.9% in the second quarter. Vanguard Group Inc. now owns 540,684 shares of the industrial products company’s stock valued at $1,200,000 after acquiring an additional 159,647 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in Broadwind Energy by 139.4% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 330,085 shares of the industrial products company’s stock valued at $3,842,000 after acquiring an additional 192,208 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in Broadwind Energy in the second quarter valued at approximately $417,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Broadwind Energy by 69.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,270 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 7,900 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in Broadwind Energy in the second quarter valued at approximately $29,000. 36.29% of the stock is currently owned by institutional investors and hedge funds.
Broadwind Energy Company Profile
Broadwind Energy, Inc provides products to the energy, mining, and infrastructure sector customers primarily in the United States. It operates through three segments: Towers and Heavy Fabrications, Gearing, and Process Systems. The Towers and Heavy Fabrications segment manufactures towers that are designed for various megawatt wind turbines primarily serving wind turbine manufacturers; and fabrications of heavy weldments for mining and other industrial customers.
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