Broadwind Energy (NASDAQ:BWEN) Shares Pass Above 200 Day Moving Average - Should You Sell?

Broadwind Energy, Inc. (NASDAQ:BWEN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.00 and traded as high as $2.46. Broadwind Energy shares last traded at $2.29, with a volume of 163,593 shares traded.

Wall Street Analysts Forecast Growth

BWEN has been the subject of a number of recent research reports. Zacks Research upgraded Broadwind Energy to a "hold" rating in a research report on Tuesday, August 12th. Weiss Ratings restated a "sell (d)" rating on shares of Broadwind Energy in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Broadwind Energy from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.50.

Broadwind Energy Stock Up 1.3%

The company has a quick ratio of 0.52, a current ratio of 1.53 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $2.17 and a two-hundred day simple moving average of $2.00. The stock has a market cap of $52.76 million, a P/E ratio of -22.90 and a beta of 1.48.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). Broadwind Energy had a negative net margin of 1.52% and a negative return on equity of 3.71%. The company had revenue of $39.24 million during the quarter, compared to the consensus estimate of $37.65 million. On average, equities analysts forecast that Broadwind Energy, Inc. will post 0.01 EPS for the current year.

Broadwind Energy declared that its Board of Directors has approved 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 buy up to 6.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Broadwind Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in BWEN. Goldman Sachs Group Inc. bought a new position in shares of Broadwind Energy during the first quarter valued at approximately $25,000. XTX Topco Ltd bought a new position in shares of Broadwind Energy during the second quarter valued at approximately $25,000. Corsair Capital Management L.P. bought a new position in shares of Broadwind Energy during the second quarter valued at approximately $30,000. Bridgeway Capital Management LLC raised its holdings in shares of 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 valued at $185,000 after acquiring an additional 4,903 shares in the last quarter. Finally, AMH Equity Ltd bought a new position in shares of Broadwind Energy during the first quarter valued at approximately $209,000. Institutional investors own 33.27% of the company's stock.

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.

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