Broadwind Energy Inc. (NASDAQ:BWEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Broadwind Energy, Inc., headquartered in Naperville, Illinois, owns, supports, grows and strategically positions companies that manufacture, install and maintain components for the energy industry, with a primary emphasis on the wind energy sector. The Company’s operational platforms include wind tower manufacturing; heavy steel fabrication; wind facility construction support; wind turbine installation and maintenance; precision gear manufacturing; and specialized transportation services. Its platform companies currently include Badger Transport, Inc., a specialty heavy hauler; Brad Foote Gear Works, Inc., a precision gearing systems manufacturer; Energy Maintenance Service, LLC, a wind energy operation and maintenance service provider; R.B.A. Inc., a heavy steel fabricator; and Tower Tech Systems Inc., a wind tower manufacturer. “

BWEN has been the topic of several other reports. Cowen and Company boosted their price target on Broadwind Energy from $7.25 to $9.00 and gave the company an “outperform” rating in a research note on Monday, April 3rd. TheStreet raised Broadwind Energy from a “d+” rating to a “c-” rating in a research note on Monday, March 20th.

Shares of Broadwind Energy (NASDAQ:BWEN) traded down 2.18% during mid-day trading on Tuesday, hitting $5.82. 171,353 shares of the company were exchanged. The company has a market capitalization of $87.19 million, a price-to-earnings ratio of 12.57 and a beta of 1.36. The firm has a 50 day moving average of $7.71 and a 200 day moving average of $5.40. Broadwind Energy has a 12-month low of $3.36 and a 12-month high of $9.80.

Broadwind Energy (NASDAQ:BWEN) last issued its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. Broadwind Energy had a negative return on equity of 14.33% and a negative net margin of 6.33%. The firm had revenue of $56.06 million for the quarter, compared to analyst estimates of $54.75 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The company’s revenue was up 19.9% compared to the same quarter last year. Equities research analysts forecast that Broadwind Energy will post $0.28 earnings per share for the current year.

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In other Broadwind Energy news, Director Thomas A. Wagner sold 5,441 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $7.50, for a total value of $40,807.50. Following the transaction, the director now directly owns 37,425 shares of the company’s stock, valued at $280,687.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.80% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Dialectic Capital Management LP acquired a new position in shares of Broadwind Energy during the first quarter valued at about $137,000. Teza Capital Management LLC acquired a new position in shares of Broadwind Energy during the first quarter valued at about $140,000. PEAK6 Investments L.P. acquired a new position in shares of Broadwind Energy during the first quarter valued at about $150,000. KCG Holdings Inc. acquired a new position in shares of Broadwind Energy during the first quarter valued at about $154,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Broadwind Energy during the first quarter valued at about $197,000. 45.89% of the stock is currently owned by hedge funds and other institutional investors.

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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