Broadwind Energy, Inc. (BWEN) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Broadwind Energy, Inc. (NASDAQ:BWEN) from a hold rating to a sell rating in a research report sent to investors on Thursday, November 2nd.

According to Zacks, “Broadwind Energy is a precision manufacturer of structures, equipment & components for clean tech and other specialized applications. Their most significant presence is within the U.S. wind energy industry, although they have diversified into other industrial markets in order to improve their capacity utilization and reduce their exposure to uncertainty related to favorable governmental policies currently supporting the U.S. wind energy industry. Within the U.S. wind energy industry, they provide products primarily to wind turbine manufacturers. Outside of the wind energy market, they provide precision gearing and specialty weldments to a broad range of industrial customers for oil and gas, mining, steel and other industrial applications. “

Other equities analysts have also recently issued reports about the stock. Cowen and Company set a $9.00 price objective on shares of Broadwind Energy and gave the stock a buy rating in a research report on Tuesday, July 11th. Roth Capital set a $5.00 price objective on shares of Broadwind Energy and gave the stock a buy rating in a research report on Tuesday, October 31st. Finally, ValuEngine cut shares of Broadwind Energy from a hold rating to a sell rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. Broadwind Energy has an average rating of Hold and an average target price of $6.50.

Broadwind Energy (BWEN) opened at $2.39 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.02. Broadwind Energy has a 12-month low of $2.38 and a 12-month high of $9.80.

Broadwind Energy (NASDAQ:BWEN) last issued its earnings results on Tuesday, October 31st. The industrial products company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. The company had revenue of $29.60 million during the quarter, compared to analysts’ expectations of $29.84 million. Broadwind Energy had a net margin of 2.05% and a negative return on equity of 1.31%. The business’s revenue for the quarter was down 30.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 EPS. analysts forecast that Broadwind Energy will post -0.07 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Broadwind Energy by 186.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,038 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 13,691 shares in the last quarter. KCG Holdings Inc. bought a new stake in Broadwind Energy during the 1st quarter worth approximately $154,000. Macquarie Group Ltd. bought a new stake in Broadwind Energy during the 3rd quarter worth approximately $166,000. Russell Investments Group Ltd. bought a new stake in Broadwind Energy during the 2nd quarter worth approximately $226,000. Finally, Bank of New York Mellon Corp grew its holdings in Broadwind Energy by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 59,647 shares of the industrial products company’s stock worth $301,000 after acquiring an additional 1,004 shares during the last quarter. Institutional investors and hedge funds own 54.38% of the company’s stock.

About Broadwind Energy

Broadwind Energy, Inc provides technologically advanced products and services to energy, mining and infrastructure sector customers, primarily in the United States. The Company is engaged primarily in United States wind energy industry. The Company operates through two segments: Towers and Weldments, and Gearing.

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