Zacks Investment Research Upgrades Broadwind Energy, Inc. (BWEN) to “Hold”
Broadwind Energy, Inc. (NASDAQ:BWEN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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. “
A number of other equities research analysts have also issued reports on the stock. Roth Capital set a $5.00 target price on shares of Broadwind Energy and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Cowen and Company reiterated an “outperform” rating and set a $8.00 target price (down from $9.00) on shares of Broadwind Energy in a report on Wednesday, August 2nd. Finally, ValuEngine lowered shares of Broadwind Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Broadwind Energy presently has a consensus rating of “Hold” and a consensus price target of $6.58.
Shares of Broadwind Energy (NASDAQ:BWEN) traded down 0.85% on Tuesday, reaching $3.49. The company had a trading volume of 43,841 shares. The firm has a market capitalization of $52.48 million, a price-to-earnings ratio of 7.93 and a beta of 1.53. The stock’s 50 day moving average is $3.95 and its 200 day moving average is $5.57. Broadwind Energy has a 52 week low of $2.94 and a 52 week high of $9.80.
Broadwind Energy (NASDAQ:BWEN) last released its earnings results on Tuesday, August 1st. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The company had revenue of $43.40 million for the quarter, compared to analyst estimates of $43.17 million. Broadwind Energy had a net margin of 3.53% and a return on equity of 3.27%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts anticipate that Broadwind Energy will post $0.13 EPS for the current year.
Several large investors have recently made changes to their positions in BWEN. Renaissance Technologies LLC increased its stake in shares of Broadwind Energy by 33.0% in the first quarter. Renaissance Technologies LLC now owns 831,190 shares of the industrial products company’s stock worth $6,924,000 after buying an additional 206,200 shares in the last quarter. Numeric Investors LLC increased its stake in shares of Broadwind Energy by 60.3% in the second quarter. Numeric Investors LLC now owns 818,074 shares of the industrial products company’s stock worth $4,123,000 after buying an additional 307,687 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Broadwind Energy by 63.9% in the second quarter. Vanguard Group Inc. now owns 589,115 shares of the industrial products company’s stock worth $2,969,000 after buying an additional 229,664 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Broadwind Energy by 222.8% in the second quarter. Dimensional Fund Advisors LP now owns 353,955 shares of the industrial products company’s stock worth $1,784,000 after buying an additional 244,298 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Broadwind Energy by 151,677.6% in the second quarter. Royal Bank of Canada now owns 148,742 shares of the industrial products company’s stock worth $749,000 after buying an additional 148,644 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.
About Broadwind Energy
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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