Broadwind Energy (NASDAQ:BWEN) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Broadwind Energy (NASDAQ:BWEN) announced its quarterly earnings results on Wednesday. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03), FiscalAI reports. Broadwind Energy had a net margin of 3.37% and a negative return on equity of 2.05%. The firm had revenue of $37.74 million during the quarter, compared to the consensus estimate of $36.18 million.

Broadwind Energy Stock Up 3.4%

Shares of NASDAQ:BWEN opened at $2.41 on Wednesday. The firm has a market cap of $55.91 million, a P/E ratio of 10.96 and a beta of 1.46. Broadwind Energy has a 12-month low of $1.41 and a 12-month high of $4.15. The business has a fifty day simple moving average of $2.91 and a 200 day simple moving average of $2.63. The company has a quick ratio of 0.66, a current ratio of 1.97 and a debt-to-equity ratio of 0.12.

Analyst Ratings Changes

BWEN has been the subject of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Broadwind Energy in a report on Tuesday, February 10th. Weiss Ratings restated a “hold (c)” rating on shares of Broadwind Energy in a report on Monday, December 22nd. Finally, Wall Street Zen lowered shares of Broadwind Energy from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.00.

Hedge Funds Weigh In On Broadwind Energy

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new stake in Broadwind Energy in the first quarter valued at approximately $25,000. XTX Topco Ltd acquired a new position in shares of Broadwind Energy in the 2nd quarter worth approximately $25,000. Virtu Financial LLC bought a new stake in shares of Broadwind Energy in the 3rd quarter valued at $31,000. LPL Financial LLC boosted its stake in shares of Broadwind Energy by 62.0% in the 4th quarter. LPL Financial LLC now owns 31,637 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 12,102 shares during the last quarter. Finally, Mariner LLC increased its position in shares of Broadwind Energy by 17.1% during the fourth quarter. Mariner LLC now owns 36,120 shares of the industrial products company’s stock worth $102,000 after buying an additional 5,268 shares during the period. 33.27% of the stock is currently owned by institutional investors.

About Broadwind Energy

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.