Broadwind Energy (NASDAQ:BWEN) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Broadwind Energy, Inc. (NASDAQ:BWEN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.77 and traded as high as $4.15. Broadwind Energy shares last traded at $3.96, with a volume of 646,270 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BWEN shares. Wall Street Zen cut Broadwind Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Broadwind Energy in a research note on Tuesday, February 10th. Finally, Weiss Ratings upgraded Broadwind Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Broadwind Energy Price Performance

The firm has a market capitalization of $92.66 million, a PE ratio of 18.00 and a beta of 1.73. The stock has a 50-day moving average price of $2.58 and a 200 day moving average price of $2.77. The company has a quick ratio of 0.65, a current ratio of 1.92 and a debt-to-equity ratio of 0.11.

Broadwind Energy (NASDAQ:BWEN) last posted its quarterly earnings data on Tuesday, May 12th. The industrial products company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $34.06 million during the quarter, compared to analysts’ expectations of $32.72 million. Broadwind Energy had a negative return on equity of 2.05% and a net margin of 3.30%. Equities analysts forecast that Broadwind Energy, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Trading of Broadwind Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in Broadwind Energy during the 2nd quarter worth approximately $25,000. Virtu Financial LLC purchased a new stake in Broadwind Energy during the 3rd quarter worth approximately $31,000. Goldman Sachs Group Inc. purchased a new stake in Broadwind Energy during the 1st quarter worth approximately $25,000. Macco Financial Group Inc. purchased a new stake in Broadwind Energy during the 4th quarter worth approximately $59,000. Finally, James Investment Research Inc. increased its stake in Broadwind Energy by 124.0% during the 1st quarter. James Investment Research Inc. now owns 27,100 shares of the industrial products company’s stock worth $56,000 after buying an additional 15,000 shares in the last quarter. 33.27% of the stock is currently owned by hedge funds and other institutional investors.

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.