Broadwind Energy (NASDAQ:BWEN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Broadwind Energy, Inc. (NASDAQ:BWEN)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.02 and traded as high as $4.46. Broadwind Energy shares last traded at $4.34, with a volume of 245,813 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BWEN shares. Weiss Ratings raised shares of Broadwind Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Wall Street Zen raised shares of Broadwind Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

Broadwind Energy Trading Up 0.7%

The company has a market capitalization of $101.56 million, a P/E ratio of 19.73 and a beta of 1.80. The business has a fifty day moving average price of $3.57 and a 200 day moving average price of $3.02. 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) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $34.06 million during the quarter, compared to the consensus estimate of $32.72 million. Broadwind Energy had a negative return on equity of 2.05% and a net margin of 3.30%. On average, analysts expect that Broadwind Energy, Inc. will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Broadwind Energy

A number of large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Broadwind Energy by 154.3% during the 1st 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Broadwind Energy by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 291,801 shares of the industrial products company’s stock worth $607,000 after purchasing an additional 26,546 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Broadwind Energy in the fourth quarter worth $796,000. Geode Capital Management LLC boosted its holdings in Broadwind Energy by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 239,946 shares of the industrial products company’s stock worth $679,000 after purchasing an additional 4,332 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Broadwind Energy by 40.6% during the fourth quarter. Renaissance Technologies LLC now owns 203,932 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 58,932 shares during the last quarter. Institutional investors and hedge funds own 33.27% of the company’s stock.

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.