Bank of New York Mellon Corp reduced its stake in Broadwind Energy, Inc. (NASDAQ:BWEN) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,643 shares of the industrial products company’s stock after selling 267 shares during the period. Bank of New York Mellon Corp owned approximately 0.39% of Broadwind Energy worth $489,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Essex Investment Management Co. LLC purchased a new stake in shares of Broadwind Energy during the first quarter valued at about $773,000. Equitec Proprietary Markets LLC raised its stake in shares of Broadwind Energy by 447.8% in the first quarter. Equitec Proprietary Markets LLC now owns 56,136 shares of the industrial products company’s stock valued at $468,000 after buying an additional 45,888 shares in the last quarter. Simplex Trading LLC bought a new stake in shares of Broadwind Energy during the first quarter valued at $408,000. Finally, Acadian Asset Management LLC increased its stake in shares of Broadwind Energy by 6,405.3% in the first quarter. Acadian Asset Management LLC now owns 37,991 shares of the industrial products company’s stock valued at $317,000 after buying an additional 37,407 shares during the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.
Shares of Broadwind Energy, Inc. (NASDAQ BWEN) traded up 0.804% during trading on Wednesday, hitting $3.135. The company had a trading volume of 56,168 shares. The company has a market capitalization of $47.14 million, a P/E ratio of 7.125 and a beta of 1.53. The stock’s 50-day moving average price is $4.33 and its 200 day moving average price is $5.65. Broadwind Energy, Inc. has a 52 week low of $3.08 and a 52 week high of $9.80.
Broadwind Energy (NASDAQ:BWEN) last announced its earnings results on Tuesday, August 1st. The industrial products company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The firm had revenue of $43.40 million during the quarter, compared to analysts’ expectations of $43.17 million. Broadwind Energy had a return on equity of 3.27% and a net margin of 3.53%. The business’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts forecast that Broadwind Energy, Inc. will post $0.13 earnings per share for the current year.
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BWEN has been the subject of several recent research reports. Cowen and Company reiterated an “outperform” rating and issued a $8.00 price objective (down previously from $9.00) on shares of Broadwind Energy in a research report on Wednesday, August 2nd. ValuEngine downgraded Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 3rd. Zacks Investment Research downgraded Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, Roth Capital set a $5.00 price objective on Broadwind Energy and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.58.
Broadwind Energy Company Profile
Broadwind Energy, Inc provides technologically advanced products and services to energy, mining and infrastructure sector customers, primarily in the United States. The Company is engaged primarily in United States wind energy industry. The Company operates through two segments: Towers and Weldments, and Gearing.
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