Wall Street Zen Upgrades Broadwind Energy (NASDAQ:BWEN) to “Buy”

Broadwind Energy (NASDAQ:BWEN) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Broadwind Energy in a report on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.50.

Broadwind Energy Stock Up 0.9%

Shares of NASDAQ:BWEN opened at $2.20 on Friday. Broadwind Energy has a 52-week low of $1.41 and a 52-week high of $4.15. The company has a market capitalization of $51.04 million, a PE ratio of 10.00 and a beta of 1.39. 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 company has a fifty day moving average of $3.21 and a 200-day moving average of $2.64.

Broadwind Energy (NASDAQ:BWEN) last issued its quarterly earnings data 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. Broadwind Energy had a negative return on equity of 2.05% and a net margin of 3.37%.The business had revenue of $44.24 million for the quarter, compared to analyst estimates of $41.28 million. On average, equities analysts predict that Broadwind Energy will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Broadwind Energy

A number of hedge funds have recently made changes to their positions in the stock. AMH Equity Ltd boosted its holdings in 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 acquiring an additional 179,382 shares during the last quarter. Corsair Capital Management L.P. acquired a new position in shares of Broadwind Energy in the 2nd quarter worth approximately $30,000. XTX Topco Ltd acquired a new position in shares of Broadwind Energy in the 2nd quarter worth approximately $25,000. Quinn Opportunity Partners LLC boosted its stake in shares of Broadwind Energy by 0.8% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 502,008 shares of the industrial products company’s stock valued at $909,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Susquehanna International Group LLP increased its position in shares of Broadwind Energy by 46.5% during the third quarter. Susquehanna International Group LLP now owns 89,369 shares of the industrial products company’s stock worth $188,000 after buying an additional 28,350 shares during the period. 33.27% of the stock is currently owned by 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.