Broadwind Energy (NASDAQ:BWEN) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Broadwind Energy, Inc. (NASDAQ:BWEN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.34 and traded as high as $3.21. Broadwind Energy shares last traded at $3.12, with a volume of 68,327 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Broadwind Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Broadwind Energy in a research note on Monday. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Broadwind Energy Stock Performance

The company has a market cap of $72.38 million, a PE ratio of 14.18 and a beta of 1.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.66 and a current ratio of 1.97. The firm’s 50 day moving average is $2.69 and its 200-day moving average is $2.34.

Broadwind Energy (NASDAQ:BWEN) last released its earnings results on Thursday, November 13th. The industrial products company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $44.24 million for the quarter, compared to analyst estimates of $41.28 million. Broadwind Energy had a net margin of 3.37% and a negative return on equity of 2.05%. On average, research analysts anticipate that Broadwind Energy, Inc. will post 0.01 earnings per share for the current fiscal year.

Broadwind Energy declared that its board has authorized a share buyback program on Wednesday, September 10th that authorizes the company to buyback $3.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 6.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AMH Equity Ltd grew its holdings in shares of Broadwind Energy by 124.6% in the second quarter. AMH Equity Ltd now owns 323,382 shares of the industrial products company’s stock valued at $585,000 after purchasing an additional 179,382 shares during the period. Corsair Capital Management L.P. acquired a new position in Broadwind Energy in the 2nd quarter valued at about $30,000. Goldman Sachs Group Inc. purchased a new stake in shares of Broadwind Energy in the 1st quarter valued at approximately $25,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Broadwind Energy in the 3rd quarter valued at approximately $111,000. Finally, Quinn Opportunity Partners LLC increased its holdings in shares of Broadwind Energy by 0.8% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 502,008 shares of the industrial products company’s stock worth $909,000 after buying an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 33.27% of the company’s stock.

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.