Broadwind Energy (NASDAQ:BWEN) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Broadwind Energy's stock recently crossed above its 200-day moving average, trading at $2.63, with a 200-day average of $1.97.
• Analysts are divided on the stock, with ratings of "buy," "hold," and "sell," leading to a current average rating of "hold" and a target price of $4.50.
• The company has announced a $3 million stock buyback program, indicating management's belief that the stock is undervalued.

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 $1.97 and traded as high as $2.68. Broadwind Energy shares last traded at $2.63, with a volume of 778,007 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Broadwind Energy from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Weiss Ratings reissued a "sell (d)" rating on shares of Broadwind Energy in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Broadwind Energy to a "hold" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $4.50.

Broadwind Energy Stock Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.53. The firm has a market cap of $60.60 million, a P/E ratio of -26.30 and a beta of 1.48. The firm's fifty day moving average price is $2.18 and its 200 day moving average price is $1.97.

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

Broadwind Energy declared that its board has approved a stock buyback program on Wednesday, September 10th that authorizes the company to repurchase $3.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Broadwind Energy

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new position in Broadwind Energy in the first quarter worth about $25,000. XTX Topco Ltd bought a new position in shares of Broadwind Energy during the 2nd quarter worth approximately $25,000. Corsair Capital Management L.P. acquired a new position in shares of Broadwind Energy during the second quarter worth $30,000. Bridgeway Capital Management LLC increased its position 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 worth $185,000 after purchasing an additional 4,903 shares in the last quarter. Finally, AMH Equity Ltd acquired a new position in shares of Broadwind Energy during the first quarter worth $209,000. 33.27% of the stock is currently owned by 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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