Broadwind Energy (NASDAQ:BWEN) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Broadwind Energy (NASDAQ:BWEN) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

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. “

A number of other brokerages have also recently issued reports on BWEN. Roth Capital boosted their target price on shares of Broadwind Energy from $2.50 to $2.75 and gave the company a buy rating in a research report on Monday, April 29th. ValuEngine cut shares of Broadwind Energy from a buy rating to a hold rating in a research report on Tuesday, August 6th.

BWEN stock opened at $1.88 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average price of $1.98 and a two-hundred day moving average price of $1.84. Broadwind Energy has a one year low of $1.15 and a one year high of $2.59.

Broadwind Energy (NASDAQ:BWEN) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.06). Broadwind Energy had a negative net margin of 10.78% and a negative return on equity of 19.96%. The firm had revenue of $41.17 million during the quarter, compared to analysts’ expectations of $41.50 million. Research analysts forecast that Broadwind Energy will post -0.21 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new stake in shares of Broadwind Energy in the second quarter valued at about $29,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Broadwind Energy by 69.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,270 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 7,900 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of Broadwind Energy in the second quarter valued at about $417,000. Vanguard Group Inc. boosted its position in shares of Broadwind Energy by 41.9% in the second quarter. Vanguard Group Inc. now owns 540,684 shares of the industrial products company’s stock valued at $1,200,000 after acquiring an additional 159,647 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Broadwind Energy by 139.4% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 330,085 shares of the industrial products company’s stock valued at $3,842,000 after acquiring an additional 192,208 shares during the period. 36.10% of the stock is owned by institutional investors.

Broadwind Energy Company Profile

Broadwind Energy, Inc provides products to the energy, mining, and infrastructure sector customers primarily in the United States. It operates through three segments: Towers and Heavy Fabrications, Gearing, and Process Systems. The Towers and Heavy Fabrications segment manufactures towers that are designed for various megawatt wind turbines primarily serving wind turbine manufacturers; and fabrications of heavy weldments for mining and other industrial customers.

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