Broadwind Energy, Inc. (NASDAQ:BWEN) Sees Large Growth in Short Interest

Broadwind Energy, Inc. (NASDAQ:BWEN) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 566,552 shares, a growth of 550.4% from the April 30th total of 87,111 shares. Based on an average daily volume of 3,022,616 shares, the short-interest ratio is currently 0.2 days. Approximately 2.6% of the company’s stock are sold short.

Broadwind Energy Trading Up 1.2%

NASDAQ:BWEN opened at $3.69 on Thursday. The stock has a market cap of $86.23 million, a price-to-earnings ratio of 17.26 and a beta of 1.73. The company has a quick ratio of 0.65, a current ratio of 1.92 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average price is $2.61 and its 200-day moving average price is $2.78. Broadwind Energy has a 52 week low of $1.63 and a 52 week high of $4.90.

Broadwind Energy (NASDAQ:BWEN) last announced its quarterly earnings data on Tuesday, May 12th. The industrial products company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. Broadwind Energy had a net margin of 3.30% and a negative return on equity of 2.05%. The company had revenue of $34.06 million during the quarter, compared to analyst estimates of $32.72 million. On average, equities research analysts forecast that Broadwind Energy will post -0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen cut Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Broadwind Energy in a research note on Tuesday, February 10th. Finally, Weiss Ratings raised Broadwind Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Broadwind Energy by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 239,946 shares of the industrial products company’s stock valued at $679,000 after buying an additional 4,332 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in Broadwind Energy by 5.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 102,221 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 4,903 shares during the period. Mariner LLC boosted its holdings in shares of Broadwind Energy by 17.1% during the 4th quarter. Mariner LLC now owns 36,120 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 5,268 shares during the last quarter. State Street Corp grew its stake in shares of Broadwind Energy by 7.8% in the fourth quarter. State Street Corp now owns 80,265 shares of the industrial products company’s stock worth $227,000 after acquiring an additional 5,800 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Broadwind Energy by 8.1% in the first quarter. Empowered Funds LLC now owns 127,727 shares of the industrial products company’s stock worth $266,000 after acquiring an additional 9,561 shares during the period. 33.27% of the stock is 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.