Broadwind Energy, Inc. (NASDAQ:BWEN) Sees Large Growth in Short Interest

Broadwind Energy, Inc. (NASDAQ:BWEN) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 1,191,443 shares, a growth of 74.0% from the June 30th total of 684,741 shares. Based on an average daily volume of 400,845 shares, the days-to-cover ratio is currently 3.0 days. Approximately 5.4% of the shares of the stock are sold short.

Broadwind Energy Stock Up 2.6%

Broadwind Energy stock opened at $4.00 on Friday. The stock’s fifty day moving average is $4.39 and its two-hundred day moving average is $3.26. The stock has a market cap of $93.62 million, a PE ratio of 18.18 and a beta of 1.74. Broadwind Energy has a 1-year low of $1.88 and a 1-year high of $5.52. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 0.65.

Broadwind Energy (NASDAQ:BWEN) last announced its quarterly earnings results on Tuesday, May 12th. The industrial products company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $34.06 million for the quarter, compared to analyst estimates of $32.72 million. Broadwind Energy had a net margin of 3.30% and a negative return on equity of 2.05%. On average, sell-side analysts expect that Broadwind Energy will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. purchased a new stake in Broadwind Energy during the 1st quarter valued at approximately $25,000. XTX Topco Ltd purchased a new stake in Broadwind Energy during the second quarter worth $25,000. Bridgeway Capital Management LLC boosted its position in shares of Broadwind Energy by 5.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 102,221 shares of the industrial products company’s stock worth $185,000 after buying an additional 4,903 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Broadwind Energy by 4.7% in the third quarter. Dimensional Fund Advisors LP now owns 226,011 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 10,142 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Broadwind Energy during the 3rd quarter valued at $31,000. 33.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BWEN has been the topic of several analyst reports. Weiss Ratings upgraded Broadwind Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 1st. Wall Street Zen lowered Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.00.

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.