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

Shares of Broadwind Energy, Inc. (NASDAQ:BWEN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.57 and traded as high as $3.50. Broadwind Energy shares last traded at $3.35, with a volume of 140,664 shares traded.

Analyst Ratings Changes

Several brokerages have recently commented on BWEN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Broadwind Energy in a research note on Monday, December 22nd. Wall Street Zen raised shares of Broadwind Energy from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Broadwind Energy presently has a consensus rating of “Moderate Buy” and an average price target of $4.50.

Broadwind Energy Stock Performance

The stock has a market capitalization of $77.72 million, a PE ratio of 15.23 and a beta of 1.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.66 and a current ratio of 1.97. The firm’s 50 day moving average is $3.16 and its two-hundred day moving average is $2.57.

Broadwind Energy (NASDAQ:BWEN) last issued its quarterly earnings results on Thursday, November 13th. The industrial products company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $44.24 million during the quarter, compared to analysts’ expectations of $41.28 million. Broadwind Energy had a net margin of 3.37% and a negative return on equity of 2.05%. As a group, research analysts predict that Broadwind Energy, Inc. will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On Broadwind Energy

A number of institutional investors and hedge funds have recently made changes to their positions in BWEN. AMH Equity Ltd increased its stake in shares of Broadwind Energy by 124.6% during the second quarter. AMH Equity Ltd now owns 323,382 shares of the industrial products company’s stock worth $585,000 after buying an additional 179,382 shares during the period. Pekin Hardy Strauss Inc. purchased a new position in Broadwind Energy in the third quarter worth approximately $111,000. Susquehanna International Group LLP grew its holdings in Broadwind Energy by 46.5% during the 3rd quarter. Susquehanna International Group LLP now owns 89,369 shares of the industrial products company’s stock worth $188,000 after acquiring an additional 28,350 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Broadwind Energy in the 1st quarter valued at approximately $25,000. Finally, Corsair Capital Management L.P. acquired a new stake in shares of Broadwind Energy in the 2nd quarter valued at $30,000. 33.27% of the stock is owned by institutional investors and hedge funds.

Broadwind Energy Company Profile

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.