Broadwind Energy, Inc. (NASDAQ:BWEN) Sees Significant Growth in Short Interest

Key Points

• Short interest jumped 111.2% in April to 87,621 shares (about 0.4% of float), leaving a short-interest ratio of roughly 0.9 days based on average daily volume.
• Analyst views are mixed—one Buy, one Hold and one Sell—giving a consensus rating of Hold with a consensus price target of $6.00.
• Several hedge funds added or increased positions (e.g., Marshall Wace, Renaissance, Dimensional), institutional ownership is 33.27%, and the stock trades near $2.58 with a market cap of ~$60.4M after a recent quarter that missed EPS estimates (-$0.04 vs. -$0.01) but beat on revenue.

Broadwind Energy, Inc. (NASDAQ:BWEN - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 87,621 shares, an increase of 111.2% from the March 31st total of 41,487 shares. Based on an average daily volume of 92,423 shares, the short-interest ratio is presently 0.9 days. Approximately 0.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have commented on BWEN shares. Wall Street Zen raised shares of Broadwind Energy from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Weiss Ratings downgraded shares of Broadwind Energy from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, March 25th. Finally, HC Wainwright reissued a "buy" rating and issued a $6.00 price target on shares of Broadwind Energy in a report on Tuesday, February 10th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Broadwind Energy currently has an average rating of "Hold" and a consensus price target of $6.00.

Hedge Funds Weigh In On Broadwind Energy

A number of hedge funds have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in shares of Broadwind Energy in the fourth quarter valued at about $796,000. Dimensional Fund Advisors LP increased its position in shares of Broadwind Energy by 17.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 265,255 shares of the industrial products company's stock valued at $751,000 after acquiring an additional 39,244 shares during the period. Geode Capital Management LLC increased its position in shares of Broadwind Energy by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 239,946 shares of the industrial products company's stock valued at $679,000 after acquiring an additional 4,332 shares during the period. Renaissance Technologies LLC increased its position in shares of Broadwind Energy by 40.6% in the fourth quarter. Renaissance Technologies LLC now owns 203,932 shares of the industrial products company's stock valued at $577,000 after acquiring an additional 58,932 shares during the period. Finally, Aristides Capital LLC purchased a new position in shares of Broadwind Energy in the fourth quarter valued at about $363,000. Hedge funds and other institutional investors own 33.27% of the company's stock.

Broadwind Energy Trading Down 3.0%

NASDAQ:BWEN traded down $0.08 during trading hours on Friday, reaching $2.58. The company's stock had a trading volume of 77,501 shares, compared to its average volume of 122,486. The firm has a market capitalization of $60.38 million, a price-to-earnings ratio of 11.73 and a beta of 1.54. The firm has a 50-day simple moving average of $2.27 and a 200-day simple moving average of $2.64. Broadwind Energy has a 1 year low of $1.45 and a 1 year high of $4.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 2.03.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) last issued its earnings results on Wednesday, March 11th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). The business had revenue of $37.74 million during the quarter, compared to analysts' expectations of $36.18 million. Broadwind Energy had a negative return on equity of 1.91% and a net margin of 3.32%. Research analysts expect that Broadwind Energy will post -0.06 EPS for the current fiscal year.

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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