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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BWEN shares. Zacks Research upgraded shares of Broadwind Energy to a "hold" rating in a report on Tuesday, August 12th. Wall Street Zen cut shares of Broadwind Energy from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in shares of Broadwind Energy during the fourth quarter valued at about $76,000. AMH Equity Ltd acquired a new position in shares of Broadwind Energy during the first quarter valued at about $209,000. Grace & White Inc. NY grew its holdings in shares of Broadwind Energy by 7.3% during the first quarter. Grace & White Inc. NY now owns 2,125,587 shares of the industrial products company's stock valued at $3,082,000 after buying an additional 144,988 shares during the last quarter. US Bancorp DE grew its holdings in shares of Broadwind Energy by 11.9% during the first quarter. US Bancorp DE now owns 160,128 shares of the industrial products company's stock valued at $232,000 after buying an additional 16,998 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in 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 last quarter. 33.27% of the stock is currently owned by institutional investors and hedge funds.

Broadwind Energy Stock Up 1.9%

NASDAQ:BWEN traded up $0.04 during trading hours on Thursday, reaching $2.17. The company had a trading volume of 84,443 shares, compared to its average volume of 157,796. The firm has a market cap of $50.00 million, a price-to-earnings ratio of -21.65 and a beta of 1.56. The business's 50-day simple moving average is $2.31 and its two-hundred day simple moving average is $1.88. Broadwind Energy has a twelve month low of $1.41 and a twelve month high of $3.03. The company has a quick ratio of 0.52, a current ratio of 1.53 and a debt-to-equity ratio of 0.17.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $39.24 million for the quarter, compared to analyst estimates of $37.65 million. Broadwind Energy had a negative net margin of 1.52% and a negative return on equity of 3.71%. On average, equities analysts expect that Broadwind Energy will post 0.01 earnings per share for the current year.

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