Broadwind Energy (NASDAQ:BWEN) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Broadwind Energy from “hold” to “sell,” contrasting with Roth Capital’s “buy” rating and $6.50 price target. Overall, analysts maintain a “Moderate Buy” consensus with an average target of $6.25.
• Broadwind shares opened at $4.15, compared with a 52-week range of $1.88 to $5.70. The company reported a quarterly loss of $0.03 per share, missing estimates by $0.02, while revenue of $8.19 million fell well short of the $34.97 million forecast.
• Institutional investors made several new purchases or increased holdings in BWEN, and hedge funds and other institutions collectively own 33.27% of the company’s stock.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities analysts have also commented on BWEN. Roth Capital reissued a "buy" rating and issued a $6.50 price target (up from $5.00) on shares of Broadwind Energy in a report on Wednesday, August 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Broadwind Energy in a research report on Thursday, August 27th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $6.25.

Broadwind Energy Price Performance

Broadwind Energy stock opened at $4.15 on Friday. The stock has a market cap of $98.19 million, a price-to-earnings ratio of 18.04 and a beta of 1.82. The company has a quick ratio of 1.73, a current ratio of 2.72 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $4.59 and a 200 day simple moving average of $3.53. Broadwind Energy has a 52 week low of $1.88 and a 52 week high of $5.70.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The industrial products company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Broadwind Energy had a net margin of 3.90% and a negative return on equity of 1.54%. The business had revenue of $8.19 million during the quarter, compared to analysts' expectations of $34.97 million. On average, research analysts forecast that Broadwind Energy will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Broadwind Energy

Several institutional investors have recently bought and sold shares of BWEN. Goldman Sachs Group Inc. purchased a new position in Broadwind Energy in the 1st quarter worth approximately $25,000. XTX Topco Ltd bought a new position in shares of Broadwind Energy in the second quarter worth approximately $25,000. Virtu Financial LLC purchased a new position in shares of Broadwind Energy in the third quarter worth $31,000. Apollon Wealth Management LLC bought a new stake in Broadwind Energy during the 1st quarter valued at $56,000. Finally, James Investment Research Inc. boosted its position in Broadwind Energy by 124.0% during the 1st quarter. James Investment Research Inc. now owns 27,100 shares of the industrial products company's stock valued at $56,000 after buying an additional 15,000 shares during the period. 33.27% of the stock is currently owned by hedge funds and other 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.

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