Short Interest in Broadwind Energy, Inc. (NASDAQ:BWEN) Declines By 56.4%

Key Points

• Broadwind Energy experienced a significant decline in short interest, dropping by 56.4% in August to 60,200 shares.
• The company reported a quarterly loss with an EPS of ($0.04), missing analysts' estimates, while its revenue of $39.24 million exceeded forecasts.
• Broadwind's Board of Directors approved a share repurchase plan to buy back $3 million worth of shares, indicating confidence in the stock's value.

Broadwind Energy, Inc. (NASDAQ:BWEN - Get Free Report) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 60,200 shares, a drop of 56.4% from the August 15th total of 138,000 shares. Based on an average daily trading volume, of 208,300 shares, the short-interest ratio is presently 0.3 days. Approximately 0.3% of the company's stock are sold short. Approximately 0.3% of the company's stock are sold short. Based on an average daily trading volume, of 208,300 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of Broadwind Energy

A number of large investors have recently modified their holdings of the company. Quinn Opportunity Partners LLC lifted its holdings in Broadwind Energy by 0.8% in the second quarter. Quinn Opportunity Partners LLC now owns 502,008 shares of the industrial products company's stock worth $909,000 after purchasing an additional 4,000 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Broadwind Energy by 5.0% in 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. XTX Topco Ltd acquired a new stake in Broadwind Energy in the second quarter worth about $25,000. Corsair Capital Management L.P. acquired a new stake in Broadwind Energy in the second quarter worth about $30,000. Finally, US Bancorp DE lifted its holdings in Broadwind Energy by 11.9% in the first quarter. US Bancorp DE now owns 160,128 shares of the industrial products company's stock worth $232,000 after purchasing an additional 16,998 shares during the period. Institutional investors and hedge funds own 33.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BWEN shares. Wall Street Zen lowered shares of Broadwind Energy from a "hold" rating to a "sell" rating in a report on Saturday. Zacks Research upgraded shares of Broadwind Energy to a "hold" rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $4.50.

Broadwind Energy Stock Up 3.3%

Shares of NASDAQ:BWEN traded up $0.07 during trading on Tuesday, hitting $2.20. The company's stock had a trading volume of 126,214 shares, compared to its average volume of 158,546. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.53. The stock's 50-day moving average price is $2.30 and its two-hundred day moving average price is $1.87. The company has a market capitalization of $50.69 million, a PE ratio of -22.00 and a beta of 1.56. Broadwind Energy has a fifty-two week low of $1.41 and a fifty-two week high of $3.03.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). Broadwind Energy had a negative return on equity of 3.71% and a negative net margin of 1.52%.The company had revenue of $39.24 million during the quarter, compared to the consensus estimate of $37.65 million. As a group, sell-side analysts expect that Broadwind Energy will post 0.01 EPS for the current year.

Broadwind Energy declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 10th that permits the company to buyback $3.00 million in shares. This buyback authorization permits the industrial products company to buy up to 6.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Broadwind Energy Company Profile

Broadwind, Inc manufactures and sells structures, equipment, and components for clean tech and other specialized applications primarily in the United States. It operates through three segments: Heavy Fabrications, Gearing, and Industrial Solutions. The Heavy Fabrications segment provides fabrications to various industrial markets.