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

Broadwind Energy, Inc. (NASDAQ:BWEN)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.26 and traded as high as $5.03. Broadwind Energy shares last traded at $4.80, with a volume of 483,083 shares.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BWEN. Weiss Ratings raised shares of Broadwind Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 1st. Wall Street Zen downgraded shares of Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.00.

Broadwind Energy Stock Performance

The company has a quick ratio of 0.65, a current ratio of 1.92 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $81.68 million, a P/E ratio of 15.86 and a beta of 1.74. The company’s 50 day moving average is $4.39 and its 200-day moving average is $3.26.

Broadwind Energy (NASDAQ:BWEN) last announced its quarterly earnings data on Tuesday, May 12th. The industrial products company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm 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%. As a group, equities analysts anticipate that Broadwind Energy, Inc. will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BWEN. Geode Capital Management LLC grew its stake in Broadwind Energy by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 239,946 shares of the industrial products company’s stock valued at $679,000 after acquiring an additional 4,332 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Broadwind Energy by 5.0% during the second quarter. Bridgeway Capital Management LLC now owns 102,221 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 4,903 shares during the period. Mariner LLC lifted its holdings in shares of Broadwind Energy by 17.1% in the 4th quarter. Mariner LLC now owns 36,120 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 5,268 shares in the last quarter. State Street Corp grew its position in Broadwind Energy by 7.8% in the 4th quarter. State Street Corp now owns 80,265 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 5,800 shares during the period. Finally, Empowered Funds LLC grew its position in Broadwind Energy by 8.1% in the 1st quarter. Empowered Funds LLC now owns 127,727 shares of the industrial products company’s stock valued at $266,000 after purchasing an additional 9,561 shares during the period. Institutional investors 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.