Broadwind Energy, Inc. (NASDAQ:BWEN) Short Interest Update

Broadwind Energy, Inc. (NASDAQ:BWEN) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 91,105 shares, an increase of 30.0% from the November 30th total of 70,069 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 247,108 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 247,108 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.4% of the company’s stock are short sold.

Broadwind Energy Stock Performance

Shares of BWEN opened at $3.00 on Tuesday. The company’s fifty day moving average is $2.73 and its 200-day moving average is $2.37. Broadwind Energy has a 12 month low of $1.41 and a 12 month high of $3.59. The firm has a market cap of $69.60 million, a price-to-earnings ratio of 13.64 and a beta of 1.51. The company has a quick ratio of 0.66, a current ratio of 1.97 and a debt-to-equity ratio of 0.12.

Broadwind Energy (NASDAQ:BWEN) last released its quarterly earnings data on Thursday, November 13th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $44.24 million during 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%. Equities analysts expect that Broadwind Energy will post 0.01 EPS for the current fiscal year.

Broadwind Energy declared that its Board of Directors has authorized a share buyback plan on Wednesday, September 10th that authorizes the company to repurchase $3.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Broadwind Energy

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

Analyst Ratings Changes

BWEN has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Broadwind Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Broadwind Energy in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

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.