Broadwind Energy (NASDAQ:BWEN) Issues Earnings Results

Key Points

• Broadwind Energy missed quarterly expectations: It reported a loss of $0.03 per share versus the $0.01 loss analysts expected, while revenue of $24.30 million fell well short of the $34.97 million consensus estimate.
• Shares rose 8.7% to $4.85 despite the earnings and revenue shortfalls. The stock has traded between $1.88 and $5.55 over the past year, with institutional investors owning 33.27% of outstanding shares.
• Analyst sentiment remains cautious, with one Buy, two Hold ratings, and an overall consensus rating of Hold; the average price target is $6.00.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) posted its quarterly earnings data on Tuesday. The industrial products company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02), FiscalAI reports. The company had revenue of $24.30 million during the quarter, compared to analyst estimates of $34.97 million. Broadwind Energy had a negative return on equity of 2.05% and a net margin of 3.30%.

Broadwind Energy Stock Up 8.7%

NASDAQ:BWEN traded up $0.39 during trading hours on Tuesday, hitting $4.85. 1,144,434 shares of the company's stock traded hands, compared to its average volume of 561,591. The stock's fifty day moving average price is $4.49 and its two-hundred day moving average price is $3.30. The firm has a market cap of $113.40 million, a P/E ratio of 22.37 and a beta of 1.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 1.92. Broadwind Energy has a twelve month low of $1.88 and a twelve month high of $5.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in Broadwind Energy in the 4th quarter worth $170,000. Captrust Financial Advisors acquired a new position in Broadwind Energy during the 4th quarter worth $275,000. State Street Corp boosted its holdings in Broadwind Energy by 7.8% during the fourth quarter. State Street Corp now owns 80,265 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 5,800 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Broadwind Energy by 38.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 84,573 shares of the industrial products company's stock valued at $239,000 after purchasing an additional 23,290 shares during the last quarter. Finally, Susquehanna International Group LLP grew its position in shares of Broadwind Energy by 46.5% in the third quarter. Susquehanna International Group LLP now owns 89,369 shares of the industrial products company's stock valued at $188,000 after purchasing an additional 28,350 shares during the last quarter. Hedge funds and other institutional investors own 33.27% of the company's stock.

Analyst Ratings Changes

BWEN has been the topic of several recent analyst reports. Wall Street Zen cut Broadwind Energy from a "hold" rating to a "sell" rating in a report on Tuesday, July 28th. Weiss Ratings raised Broadwind Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.00.

Broadwind Energy Company Profile

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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