Broadwind Energy (NASDAQ:BWEN) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Broadwind Energy, Inc. (NASDAQ:BWEN)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.29 and traded as high as $3.52. Broadwind Energy shares last traded at $3.46, with a volume of 447,744 shares trading hands.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen raised Broadwind Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Broadwind Energy in a research report on Monday. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Broadwind Energy has an average rating of “Moderate Buy” and a consensus price target of $4.50.

Broadwind Energy Trading Down 9.7%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.97 and a quick ratio of 0.66. The firm has a market cap of $67.28 million, a PE ratio of 13.18 and a beta of 1.51. The company’s 50 day moving average price is $2.62 and its 200 day moving average price is $2.30.

Broadwind Energy (NASDAQ:BWEN) last released its earnings results on Thursday, November 13th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Broadwind Energy had a net margin of 3.37% and a negative return on equity of 2.05%. The company had revenue of $44.24 million for the quarter, compared to analyst estimates of $41.28 million. As a group, analysts forecast that Broadwind Energy, Inc. will post 0.01 EPS for the current fiscal year.

Broadwind Energy declared that its board has initiated a share buyback plan 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Broadwind Energy

A number of hedge funds have recently bought and sold shares of BWEN. XTX Topco Ltd purchased a new stake in shares of Broadwind Energy during the second quarter worth approximately $25,000. Virtu Financial LLC acquired a new position in Broadwind Energy during the 3rd quarter worth approximately $31,000. Corsair Capital Management L.P. purchased a new stake in shares of Broadwind Energy in the 2nd quarter valued at approximately $30,000. Goldman Sachs Group Inc. purchased a new stake in shares of Broadwind Energy in the 1st quarter valued at approximately $25,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of Broadwind Energy in the 3rd quarter valued at $111,000. Institutional investors and hedge funds own 33.27% of the company’s stock.

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.