Broadwind Energy (NASDAQ:BWEN) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Broadwind Energy's stock price has surpassed its 200-day moving average, reaching $2.76 before settling at $2.68 during trading.
• Wall Street Zen has dropped its rating on Broadwind Energy from "hold" to "sell," indicating a shift in analyst sentiment.
• The company reported a revenue of $36.84 million for the last quarter, surpassing analysts' expectations of $32.76 million, despite a negative net margin.

Shares of Broadwind Energy, Inc. (NASDAQ:BWEN - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.78 and traded as high as $2.76. Broadwind Energy shares last traded at $2.68, with a volume of 81,856 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Broadwind Energy from a "hold" rating to a "sell" rating in a research note on Monday, May 19th.

Broadwind Energy Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.41 and a current ratio of 1.51. The stock has a market capitalization of $60.81 million, a P/E ratio of -67.00 and a beta of 1.42. The firm has a 50-day moving average price of $2.08 and a 200 day moving average price of $1.78.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The industrial products company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.01. The business had revenue of $36.84 million for the quarter, compared to analysts' expectations of $32.76 million. Broadwind Energy had a negative net margin of 0.51% and a negative return on equity of 1.23%. On average, analysts expect that Broadwind Energy, Inc. will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Broadwind Energy

A number of large investors have recently bought and sold shares of the stock. Grace & White Inc. NY grew its holdings in shares of Broadwind Energy by 7.3% in the first quarter. Grace & White Inc. NY now owns 2,125,587 shares of the industrial products company's stock worth $3,082,000 after purchasing an additional 144,988 shares during the last quarter. AMH Equity Ltd boosted its position in Broadwind Energy by 124.6% during the 2nd quarter. AMH Equity Ltd now owns 323,382 shares of the industrial products company's stock valued at $585,000 after buying an additional 179,382 shares during the period. US Bancorp DE grew its holdings in Broadwind Energy by 11.9% in the 1st quarter. US Bancorp DE now owns 160,128 shares of the industrial products company's stock worth $232,000 after acquiring an additional 16,998 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in Broadwind Energy by 11.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 90,387 shares of the industrial products company's stock worth $170,000 after acquiring an additional 9,176 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Broadwind Energy in the fourth quarter valued at about $76,000. 33.27% of the stock is owned by hedge funds and other institutional investors.

About Broadwind Energy

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.

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