Broadwind Energy (NASDAQ:BWEN) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Broadwind Energy shares crossed above their 200-day moving average, reaching $5.03 before closing at $4.80, compared with a 200-day average of $3.26.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from three analysts, with an average price target of $6.00; one firm recently downgraded it to “Sell.”
• Broadwind exceeded quarterly expectations, reporting a loss of $0.02 per share versus an expected loss of $0.07 and revenue of $34.06 million versus an estimate of $32.72 million. Institutional investors own 33.27% of the company.

Broadwind Energy, Inc. (NASDAQ:BWEN - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.26 and traded as high as $5.03. Broadwind Energy shares last traded at $4.80, with a volume of 483,083 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on BWEN shares. Weiss Ratings upgraded shares of Broadwind Energy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 1st. Wall Street Zen lowered shares of Broadwind Energy from a "hold" rating to a "sell" rating in a report on Tuesday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.00.

Broadwind Energy Stock Down 0.6%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 0.65. The stock has a market capitalization of $112.32 million, a PE ratio of 21.82 and a beta of 1.74. The company has a 50 day moving average price of $4.38 and a 200-day moving average price of $3.26.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The industrial products company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.05. The company had revenue of $34.06 million during the quarter, compared to analyst estimates of $32.72 million. Broadwind Energy had a negative return on equity of 2.05% and a net margin of 3.30%. As a group, analysts forecast that Broadwind Energy, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Broadwind Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in shares of Broadwind Energy during the 4th quarter valued at about $796,000. Arrowstreet Capital Limited Partnership raised its stake in Broadwind Energy by 154.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 434,861 shares of the industrial products company's stock worth $905,000 after buying an additional 263,825 shares in the last quarter. Aristides Capital LLC purchased a new stake in Broadwind Energy in the fourth quarter worth about $363,000. Jane Street Group LLC lifted its holdings in Broadwind Energy by 821.0% in the fourth quarter. Jane Street Group LLC now owns 123,659 shares of the industrial products company's stock worth $350,000 after buying an additional 110,232 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in Broadwind Energy in the fourth quarter worth about $275,000. 33.27% of the stock is owned by hedge funds and other institutional investors.

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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