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

Broadwind Energy, Inc. (NASDAQ:BWEN)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.57 and traded as high as $3.50. Broadwind Energy shares last traded at $3.35, with a volume of 140,664 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Broadwind Energy in a report on Monday, December 22nd. Wall Street Zen upgraded shares of Broadwind Energy from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.50.

Broadwind Energy Trading Down 3.2%

The company has a 50 day moving average of $3.16 and a 200 day moving average of $2.57. 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 stock has a market capitalization of $77.72 million, a price-to-earnings ratio of 15.23 and a beta of 1.37.

Broadwind Energy (NASDAQ:BWEN) last announced its earnings results on Thursday, November 13th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $44.24 million for the quarter, compared to analysts’ expectations 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 predict that Broadwind Energy, Inc. will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Broadwind Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BWEN. Goldman Sachs Group Inc. purchased a new position in shares of Broadwind Energy during the 1st quarter worth $25,000. XTX Topco Ltd purchased a new position in Broadwind Energy during the second quarter worth about $25,000. Corsair Capital Management L.P. acquired a new position in Broadwind Energy in the 2nd quarter valued at about $30,000. Virtu Financial LLC purchased a new stake in shares of Broadwind Energy during the 3rd quarter valued at approximately $31,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Broadwind Energy during the 3rd quarter valued at approximately $111,000. Institutional investors and hedge funds own 33.27% of the company’s stock.

Broadwind Energy Company Profile

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.