Broadwind Energy (NASDAQ:BWEN) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Shares of Broadwind Energy, Inc. (NASDAQ:BWEN - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.94 and traded as high as $2.24. Broadwind Energy shares last traded at $2.17, with a volume of 101,976 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BWEN shares. Zacks Research upgraded Broadwind Energy to a "hold" rating in a report on Tuesday, August 12th. Wall Street Zen lowered shares of Broadwind Energy from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Broadwind Energy in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Broadwind Energy presently has a consensus rating of "Hold" and a consensus target price of $4.50.

Broadwind Energy Trading Down 2.3%

The stock has a market cap of $50.00 million, a PE ratio of -21.70 and a beta of 1.48. 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 company's 50-day moving average price is $2.22 and its 200 day moving average price is $1.94.

Broadwind Energy (NASDAQ:BWEN - Get Free Report) last released 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 firm had revenue of $39.24 million for the quarter, compared to analysts' expectations of $37.65 million. Broadwind Energy had a negative net margin of 1.52% and a negative return on equity of 3.71%. On average, sell-side analysts forecast that Broadwind Energy, Inc. will post 0.01 EPS for the current fiscal year.

Broadwind Energy announced that its board has approved a stock buyback plan on Wednesday, September 10th that permits the company to buyback $3.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

Institutional Trading of Broadwind Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BWEN. Squarepoint Ops LLC purchased a new stake in Broadwind Energy in the fourth quarter valued at approximately $76,000. Grace & White Inc. NY raised its position in 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 valued at $3,082,000 after purchasing an additional 144,988 shares during the period. AMH Equity Ltd purchased a new stake in Broadwind Energy in the first quarter valued at approximately $209,000. US Bancorp DE raised its position in Broadwind Energy by 11.9% in the first quarter. US Bancorp DE now owns 160,128 shares of the industrial products company's stock valued at $232,000 after purchasing an additional 16,998 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new stake in Broadwind Energy in the first quarter valued at approximately $25,000. Hedge funds and other 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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