Broadwind Energy, Inc. (BWEN) Upgraded by Zacks Investment Research to “Hold”
Broadwind Energy, Inc. (NASDAQ:BWEN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
Several other brokerages have also issued reports on BWEN. ValuEngine lowered shares of Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Roth Capital set a $5.00 price target on shares of Broadwind Energy and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Cowen and Company restated an “outperform” rating and set a $8.00 price target (down previously from $9.00) on shares of Broadwind Energy in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $6.58.
Shares of Broadwind Energy (NASDAQ:BWEN) traded up 15.34% during trading on Tuesday, reaching $3.91. The company had a trading volume of 325,303 shares. Broadwind Energy has a 52 week low of $2.94 and a 52 week high of $9.80. The stock’s 50-day moving average price is $3.29 and its 200-day moving average price is $5.18. The company has a market capitalization of $58.79 million, a PE ratio of 8.89 and a beta of 1.60.
Broadwind Energy (NASDAQ:BWEN) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $43.40 million for the quarter, compared to analysts’ expectations of $43.17 million. Broadwind Energy had a net margin of 3.53% and a return on equity of 3.27%. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts expect that Broadwind Energy will post $0.12 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in Broadwind Energy by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 59,647 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 1,004 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Broadwind Energy by 186.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,038 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 13,691 shares in the last quarter. PEAK6 Investments L.P. purchased a new position in Broadwind Energy in the 1st quarter valued at $150,000. KCG Holdings Inc. purchased a new position in Broadwind Energy in the 1st quarter valued at $154,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Broadwind Energy in the 1st quarter valued at $197,000. Hedge funds and other institutional investors own 54.49% of the company’s stock.
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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