Broadwind Energy (NASDAQ:BWEN) Given New $5.00 Price Target at Roth Capital

Key Points

• Roth Capital cut Broadwind Energy’s price target from $6.50 to $5.00 but maintained a Buy rating; the new target implies 115.42% upside from the prior close.
• Broadwind shares fell 7.9% Friday to $2.32. The stock has a consensus “Moderate Buy” rating and an average analyst price target of $5.50.
• The company reported quarterly EPS of -$0.10, missing the -$0.03 consensus estimate, while revenue of $22.25 million also came in below expectations.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) had its price objective reduced by research analysts at Roth Capital from $6.50 to $5.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Roth Capital's target price indicates a potential upside of 115.42% from the company's previous close.

BWEN has been the topic of a number of other research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Broadwind Energy in a report on Thursday, August 27th. Wall Street Zen downgraded shares of Broadwind Energy from a "hold" rating to a "sell" rating in a research report on Saturday, September 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Broadwind Energy presently has an average rating of "Moderate Buy" and a consensus price target of $5.50.

Broadwind Energy Stock Down 7.9%

Shares of NASDAQ:BWEN traded down $0.20 on Friday, hitting $2.32. 127,946 shares of the company traded hands, compared to its average volume of 491,396. Broadwind Energy has a 52 week low of $1.89 and a 52 week high of $5.70. 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 stock has a 50 day simple moving average of $3.64 and a 200-day simple moving average of $3.49. The company has a market cap of $54.91 million, a PE ratio of 10.21 and a beta of 1.83.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) last posted its quarterly earnings results on Thursday, November 12th. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Broadwind Energy had a negative return on equity of 1.54% and a net margin of 3.90%. The company had revenue of $22.25 million during the quarter, compared to analysts' expectations of $23.88 million. As a group, research analysts expect that Broadwind Energy will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Broadwind Energy

Several institutional investors have recently modified their holdings of BWEN. NewEdge Advisors LLC increased its holdings in Broadwind Energy by 123.0% in the 1st quarter. NewEdge Advisors LLC now owns 27,200 shares of the industrial products company's stock worth $57,000 after buying an additional 15,000 shares in the last quarter. Squarepoint Ops LLC bought a new position in Broadwind Energy during the 2nd quarter valued at about $173,000. Empowered Funds LLC boosted its holdings in shares of Broadwind Energy by 8.1% during the 1st quarter. Empowered Funds LLC now owns 127,727 shares of the industrial products company's stock valued at $266,000 after acquiring an additional 9,561 shares during the last quarter. Aristides Capital LLC boosted its holdings in shares of Broadwind Energy by 13.1% during the 1st quarter. Aristides Capital LLC now owns 144,930 shares of the industrial products company's stock valued at $301,000 after acquiring an additional 16,797 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Broadwind Energy by 10.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 291,801 shares of the industrial products company's stock valued at $607,000 after acquiring an additional 26,546 shares during the last quarter. 33.27% of the stock is owned by hedge funds and other institutional investors.

Broadwind Energy Company Profile

Broadwind Energy, Inc. is a precision manufacturer that produces structures, equipment and components for the wind energy, clean technology and other industrial markets. The company provides engineered manufacturing solutions for customers that require large-scale fabrication, machining, assembly and related services. Broadwind's product and service offerings include wind turbine towers, heavy fabrications, industrial equipment and precision gearing. Its manufacturing capabilities include welding, machining, gear manufacturing, assembly, engineering and supply-chain support.

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