Short Interest in Broadwind Energy, Inc. (NASDAQ:BWEN) Drops By 32.8%

Broadwind Energy, Inc. (NASDAQ:BWEN) saw a large drop in short interest in August. As of August 15th, there was short interest totaling 138,000 shares, adropof32.8% from the July 31st total of 205,400 shares. Based on an average daily trading volume, of 209,100 shares, the days-to-cover ratio is currently 0.7 days. Approximately0.7% of the shares of the company are short sold. Approximately0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 209,100 shares, the days-to-cover ratio is currently 0.7 days.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen downgraded Broadwind Energy from a “hold” rating to a “sell” rating in a report on Monday, May 19th. Zacks Research raised Broadwind Energy to a “hold” rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Broadwind Energy has an average rating of “Moderate Buy” and a consensus price target of $4.50.

Broadwind Energy Price Performance

BWEN traded up $0.02 on Tuesday, hitting $1.99. 5,501 shares of the company’s stock traded hands, compared to its average volume of 152,167. The company’s 50 day simple moving average is $2.26 and its 200-day simple moving average is $1.85. The firm has a market cap of $45.87 million, a price-to-earnings ratio of -20.00 and a beta of 1.56. Broadwind Energy has a one year low of $1.41 and a one year high of $3.03. The company has a current ratio of 1.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17.

Broadwind Energy (NASDAQ:BWEN) last issued its earnings results on Tuesday, August 12th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). Broadwind Energy had a negative net margin of 1.52% and a negative return on equity of 3.71%. The business had revenue of $39.24 million for the quarter, compared to the consensus estimate of $37.65 million. As a group, research analysts anticipate that Broadwind Energy will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Broadwind Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Mariner LLC purchased a new position in shares of Broadwind Energy in the 4th quarter worth approximately $56,000. Squarepoint Ops LLC purchased a new position in shares of Broadwind Energy in the 4th quarter worth approximately $76,000. AMH Equity Ltd purchased a new position in shares of Broadwind Energy in the 1st quarter worth approximately $209,000. Grace & White Inc. NY boosted its holdings in shares of Broadwind Energy by 7.3% in the 1st quarter. Grace & White Inc. NY now owns 2,125,587 shares of the industrial products company’s stock worth $3,082,000 after purchasing an additional 144,988 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Broadwind Energy by 11.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 90,387 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 9,176 shares during the period. Hedge funds and other institutional investors 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.