Municipal Employees Retirement System of Michigan purchased a new position in shares of Broadwind Energy, Inc. (NASDAQ:BWEN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 60,070 shares of the industrial products company’s stock, valued at approximately $303,000. Municipal Employees Retirement System of Michigan owned about 0.40% of Broadwind Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in 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 during the last quarter. Essex Investment Management Co. LLC acquired a new stake in Broadwind Energy during the first quarter worth $773,000. Dimensional Fund Advisors LP boosted its stake in Broadwind Energy by 110.3% in the first quarter. Dimensional Fund Advisors LP now owns 109,657 shares of the industrial products company’s stock worth $913,000 after buying an additional 57,522 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Broadwind Energy during the second quarter worth $226,000. Finally, ClariVest Asset Management LLC acquired a new stake in Broadwind Energy during the first quarter worth $340,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Shares of Broadwind Energy, Inc. (BWEN) opened at 3.32 on Thursday. Broadwind Energy, Inc. has a 52-week low of $2.94 and a 52-week high of $9.80. The stock has a 50 day moving average price of $3.95 and a 200-day moving average price of $5.57. The firm has a market cap of $49.92 million, a PE ratio of 7.55 and a beta of 1.53.

Broadwind Energy (NASDAQ:BWEN) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). Broadwind Energy had a net margin of 3.53% and a return on equity of 3.27%. The business had revenue of $43.40 million during the quarter, compared to the consensus estimate of $43.17 million. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts anticipate that Broadwind Energy, Inc. will post $0.13 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Municipal Employees Retirement System of Michigan Takes Position in Broadwind Energy, Inc. (BWEN)” was first reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://www.watchlistnews.com/municipal-employees-retirement-system-of-michigan-takes-position-in-broadwind-energy-inc-bwen/1532922.html.

A number of analysts have recently weighed in on the company. Cowen and Company reissued an “outperform” rating and issued a $8.00 price objective (down previously from $9.00) on shares of Broadwind Energy in a research report on Wednesday, August 2nd. Roth Capital set a $5.00 price objective on Broadwind Energy and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Broadwind Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, ValuEngine cut Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $6.58.

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.

Want to see what other hedge funds are holding BWEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadwind Energy, Inc. (NASDAQ:BWEN).

Institutional Ownership by Quarter for Broadwind Energy (NASDAQ:BWEN)

Receive News & Ratings for Broadwind Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadwind Energy Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.