Short Interest in Broadwind, Inc. (NASDAQ:BWEN) Declines By 21.1%

Broadwind, Inc. (NASDAQ:BWEN) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 138,000 shares, a decrease of 21.1% from the May 15th total of 174,900 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 184,100 shares, the days-to-cover ratio is currently 0.7 days.

Broadwind Trading Down 6.8 %

NASDAQ BWEN traded down $0.27 during trading hours on Friday, reaching $3.73. The company had a trading volume of 272,967 shares, compared to its average volume of 412,528. The company has a current ratio of 1.47, a quick ratio of 0.53 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $81.05 million, a P/E ratio of 9.56 and a beta of 1.49. The stock has a 50-day moving average of $2.95 and a 200 day moving average of $2.64. Broadwind has a 1-year low of $2.01 and a 1-year high of $4.81.

Broadwind (NASDAQ:BWEN) last issued its quarterly earnings data on Tuesday, May 14th. The industrial products company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.13. Broadwind had a net margin of 4.36% and a return on equity of 15.41%. The firm had revenue of $37.62 million for the quarter, compared to analyst estimates of $34.13 million. During the same period in the prior year, the business posted $0.07 EPS. As a group, research analysts anticipate that Broadwind will post 0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BWEN has been the topic of a number of recent analyst reports. Roth Mkm increased their target price on Broadwind from $3.50 to $4.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Craig Hallum reduced their price target on shares of Broadwind from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. StockNews.com upgraded Broadwind from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Finally, HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Broadwind in a report on Friday, May 17th.

Insider Buying and Selling

In other news, insider Daniel E. Schueller sold 5,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $4.53, for a total transaction of $26,274.00. Following the sale, the insider now owns 146,694 shares of the company’s stock, valued at approximately $664,523.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Broadwind

Several institutional investors and hedge funds have recently modified their holdings of the company. Grace & White Inc. NY lifted its holdings in Broadwind by 25.3% during the 4th quarter. Grace & White Inc. NY now owns 1,606,590 shares of the industrial products company’s stock worth $4,450,000 after buying an additional 324,226 shares in the last quarter. Quadrature Capital Ltd raised its stake in shares of Broadwind by 68.9% in the third quarter. Quadrature Capital Ltd now owns 47,916 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 19,550 shares in the last quarter. Perritt Capital Management Inc. boosted its holdings in Broadwind by 36.4% in the fourth quarter. Perritt Capital Management Inc. now owns 150,000 shares of the industrial products company’s stock valued at $416,000 after purchasing an additional 40,000 shares during the period. TSA Wealth Managment LLC acquired a new position in Broadwind during the 4th quarter worth $41,000. Finally, Russell Investments Group Ltd. increased its holdings in Broadwind by 7.2% during the 1st quarter. Russell Investments Group Ltd. now owns 360,365 shares of the industrial products company’s stock worth $858,000 after purchasing an additional 24,119 shares during the period. Hedge funds and other institutional investors own 33.27% of the company’s stock.

About Broadwind

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.