Broadwind Energy (NASDAQ:BWEN) Issues Earnings Results

Broadwind Energy (NASDAQ:BWEN) issued its quarterly earnings results on Tuesday. The industrial products company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02), FiscalAI reports. Broadwind Energy had a negative return on equity of 2.05% and a net margin of 3.30%.The business had revenue of $24.30 million during the quarter, compared to the consensus estimate of $34.97 million.

Broadwind Energy Price Performance

Shares of NASDAQ BWEN traded up $0.39 during midday trading on Tuesday, reaching $4.85. 1,144,434 shares of the company traded hands, compared to its average volume of 561,591. The stock’s 50-day simple moving average is $4.49 and its 200-day simple moving average is $3.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 1.92. Broadwind Energy has a 12 month low of $1.88 and a 12 month high of $5.55. The firm has a market cap of $113.40 million, a PE ratio of 22.37 and a beta of 1.78.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BWEN. Wall Street Zen cut Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Broadwind Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

Hedge Funds Weigh In On Broadwind Energy

Several institutional investors have recently added to or reduced their stakes in BWEN. Empowered Funds LLC increased its holdings in Broadwind Energy by 9.9% during the 4th quarter. Empowered Funds LLC now owns 118,166 shares of the industrial products company’s stock valued at $334,000 after purchasing an additional 10,658 shares in the last quarter. XTX Topco Ltd grew its holdings in Broadwind Energy by 88.3% during the 4th quarter. XTX Topco Ltd now owns 52,577 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 24,652 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Broadwind Energy in the 4th quarter valued at about $170,000. Bridgeway Capital Management LLC increased its position in Broadwind Energy by 9.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 123,166 shares of the industrial products company’s stock valued at $349,000 after acquiring an additional 10,658 shares in the last quarter. Finally, Corsair Capital Management L.P. raised its stake in shares of Broadwind Energy by 400.0% in the fourth quarter. Corsair Capital Management L.P. now owns 50,000 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 40,000 shares during the last quarter. 33.27% of the stock is owned by institutional investors.

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.