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

Broadwind Energy, Inc. (NASDAQ:BWEN) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.90 and traded as high as $4.54. Broadwind Energy shares last traded at $4.18, with a volume of 565,235 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wall Street Zen raised Broadwind Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised Broadwind Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.00.

Broadwind Energy Stock Up 1.2%

The company has a quick ratio of 0.65, a current ratio of 1.92 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $97.81 million, a PE ratio of 19.00 and a beta of 1.80. The firm’s fifty day moving average is $3.06 and its 200-day moving average is $2.90.

Broadwind Energy (NASDAQ:BWEN) last announced its quarterly earnings data on Tuesday, May 12th. The industrial products company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $34.06 million for the quarter, compared to analyst estimates of $32.72 million. Broadwind Energy had a negative return on equity of 2.05% and a net margin of 3.30%. On average, equities research analysts predict that Broadwind Energy, Inc. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Broadwind Energy

Several institutional investors have recently made changes to their positions in BWEN. Arrowstreet Capital Limited Partnership increased its holdings in shares of Broadwind Energy by 154.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 434,861 shares of the industrial products company’s stock valued at $905,000 after purchasing an additional 263,825 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Broadwind Energy by 10.0% during the first quarter. Dimensional Fund Advisors LP now owns 291,801 shares of the industrial products company’s stock worth $607,000 after buying an additional 26,546 shares in the last quarter. Marshall Wace LLP acquired a new position in Broadwind Energy during the fourth quarter worth about $796,000. Geode Capital Management LLC increased its holdings in Broadwind Energy by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 239,946 shares of the industrial products company’s stock valued at $679,000 after buying an additional 4,332 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Broadwind Energy by 40.6% during the 4th quarter. Renaissance Technologies LLC now owns 203,932 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 58,932 shares during the period. 33.27% of the stock is currently owned by hedge funds and other 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.