Broadwind, Inc. (NASDAQ:BWEN) Sees Significant Decline in Short Interest

Broadwind, Inc. (NASDAQ:BWEN) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 148,300 shares, a drop of 11.4% from the September 15th total of 167,400 shares. Based on an average daily trading volume, of 131,300 shares, the short-interest ratio is presently 1.1 days. Currently, 0.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Broadwind

Hedge funds have recently made changes to their positions in the stock. Lincoln Capital Corp bought a new position in Broadwind in the first quarter worth about $49,000. Ritholtz Wealth Management bought a new position in shares of Broadwind during the 2nd quarter worth approximately $83,000. Cubist Systematic Strategies LLC purchased a new stake in Broadwind during the second quarter valued at approximately $84,000. American Century Companies Inc. grew its holdings in Broadwind by 181.0% in the second quarter. American Century Companies Inc. now owns 46,032 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 29,653 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Broadwind in the 2nd quarter worth $159,000. 33.27% of the stock is currently owned by hedge funds and other institutional investors.

Broadwind Trading Up 4.4 %

BWEN traded up $0.09 during trading on Wednesday, reaching $2.15. The company had a trading volume of 70,508 shares, compared to its average volume of 148,193. The company has a quick ratio of 0.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.16. Broadwind has a 52 week low of $2.01 and a 52 week high of $4.65. The stock has a market cap of $46.73 million, a P/E ratio of 5.51 and a beta of 1.41. The business has a 50 day simple moving average of $2.20 and a 200-day simple moving average of $2.77.

Broadwind (NASDAQ:BWEN) last posted its earnings results on Tuesday, August 13th. The industrial products company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $36.45 million for the quarter, compared to the consensus estimate of $37.13 million. Broadwind had a net margin of 4.19% and a return on equity of 13.11%. During the same quarter last year, the firm posted $0.07 EPS. On average, equities analysts anticipate that Broadwind will post 0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Roth Mkm dropped their target price on shares of Broadwind from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Broadwind in a report on Wednesday, August 14th. Craig Hallum reduced their target price on Broadwind from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Finally, StockNews.com lowered Broadwind from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

About Broadwind

Broadwind, Inc manufactures and sells structures, equipment, and components for clean tech and other specialized applications primarily in the United States. It operates through three segments: Heavy Fabrications, Gearing, and Industrial Solutions. The Heavy Fabrications segment provides fabrications to various industrial markets.