Broadwind Energy, Inc. (NASDAQ:BWEN) Short Interest Update

Broadwind Energy, Inc. (NASDAQ:BWEN) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 17,800 shares, a decline of 70.3% from the September 15th total of 59,900 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 269,100 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 269,100 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in shares of Broadwind Energy in the second quarter worth approximately $25,000. Corsair Capital Management L.P. bought a new position in shares of Broadwind Energy in the second quarter worth approximately $30,000. Goldman Sachs Group Inc. bought a new position in shares of Broadwind Energy in the first quarter worth approximately $25,000. Bridgeway Capital Management LLC lifted its stake in shares of Broadwind Energy by 5.0% in the second quarter. Bridgeway Capital Management LLC now owns 102,221 shares of the industrial products company’s stock worth $185,000 after buying an additional 4,903 shares in the last quarter. Finally, AMH Equity Ltd bought a new position in Broadwind Energy during the first quarter valued at approximately $209,000. Institutional investors own 33.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BWEN. Zacks Research raised shares of Broadwind Energy to a “hold” rating in a research note on Tuesday, August 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Broadwind Energy in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Broadwind Energy from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.50.

Broadwind Energy Trading Down 1.7%

NASDAQ:BWEN opened at $2.36 on Monday. Broadwind Energy has a one year low of $1.41 and a one year high of $3.03. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.53 and a quick ratio of 0.52. The company’s 50-day simple moving average is $2.17 and its 200 day simple moving average is $1.99. The firm has a market capitalization of $54.37 million, a P/E ratio of -23.60 and a beta of 1.48.

Broadwind Energy (NASDAQ:BWEN) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $37.65 million. Broadwind Energy had a negative return on equity of 3.71% and a negative net margin of 1.52%. As a group, analysts forecast that Broadwind Energy will post 0.01 EPS for the current fiscal year.

Broadwind Energy declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 10th that permits the company to repurchase $3.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 6.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.