Short Interest in Broadwind Energy, Inc. (NASDAQ:BWEN) Expands By 74.0%

Key Points

• Short interest in Broadwind Energy surged 74% to 1.19 million shares as of July 15, representing approximately 5.4% of shares outstanding and a days-to-cover ratio of 3.0.
• Institutional investors own 33.27% of BWEN, with several firms initiating positions and James Investment Research increasing its stake by 124%.
• Analyst sentiment remains cautious: BWEN has a consensus “Hold” rating from one Buy and two Hold recommendations, with a $6.00 target price, while the stock recently traded at $3.90.

Broadwind Energy, Inc. (NASDAQ:BWEN - Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 1,191,443 shares, an increase of 74.0% from the June 30th total of 684,741 shares. Approximately 5.4% of the company's stock are sold short. Based on an average trading volume of 400,845 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Trading of Broadwind Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in BWEN. XTX Topco Ltd bought a new position in Broadwind Energy during the 2nd quarter valued at $25,000. Virtu Financial LLC acquired a new position in Broadwind Energy during the 3rd quarter worth $31,000. Goldman Sachs Group Inc. bought a new stake in shares of Broadwind Energy in the 1st quarter worth about $25,000. Macco Financial Group Inc. bought a new stake in shares of Broadwind Energy in the 4th quarter worth about $59,000. Finally, James Investment Research Inc. increased its position in shares of Broadwind Energy by 124.0% in the 1st quarter. James Investment Research Inc. now owns 27,100 shares of the industrial products company's stock worth $56,000 after purchasing an additional 15,000 shares during the last quarter. Institutional investors own 33.27% of the company's stock.

Broadwind Energy Trading Up 11.7%

Shares of BWEN opened at $3.90 on Friday. The company has a market capitalization of $91.26 million, a P/E ratio of 17.73 and a beta of 1.74. Broadwind Energy has a one year low of $1.88 and a one year high of $5.52. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 1.92. The stock has a 50-day moving average price of $4.39 and a 200 day moving average price of $3.26.

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

Analyst Upgrades and Downgrades

BWEN has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Broadwind Energy from a "hold" rating to a "sell" rating in a research note on Tuesday. Weiss Ratings raised shares of Broadwind Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.00.

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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