Broadwind Energy, Inc. (NASDAQ:BWEN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Broadwind Energy is a precision manufacturer of structures, equipment & components for clean tech and other specialized applications. Their most significant presence is within the U.S. wind energy industry, although they have diversified into other industrial markets in order to improve their capacity utilization and reduce their exposure to uncertainty related to favorable governmental policies currently supporting the U.S. wind energy industry. Within the U.S. wind energy industry, they provide products primarily to wind turbine manufacturers. Outside of the wind energy market, they provide precision gearing and specialty weldments to a broad range of industrial customers for oil and gas, mining, steel and other industrial applications. “

BWEN has been the topic of a number of other research reports. Roth Capital set a $5.00 target price on Broadwind Energy and gave the company a “buy” rating in a research report on Tuesday, October 31st. Cowen and Company set a $9.00 target price on Broadwind Energy and gave the company a “buy” rating in a research report on Tuesday, July 11th. Finally, ValuEngine lowered Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. Broadwind Energy presently has an average rating of “Hold” and a consensus target price of $6.50.

Shares of Broadwind Energy (NASDAQ:BWEN) traded up $0.09 during trading hours on Thursday, hitting $2.76. The stock had a trading volume of 66,108 shares, compared to its average volume of 98,673. Broadwind Energy has a 52-week low of $2.62 and a 52-week high of $9.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.43 and a current ratio of 0.99.

Broadwind Energy (NASDAQ:BWEN) last announced its earnings results on Tuesday, October 31st. The industrial products company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Broadwind Energy had a negative return on equity of 1.31% and a net margin of 2.05%. The firm had revenue of $29.60 million for the quarter, compared to analyst estimates of $29.84 million. During the same quarter last year, the firm posted $0.08 EPS. The business’s revenue was down 30.4% on a year-over-year basis. sell-side analysts expect that Broadwind Energy will post -0.07 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. AWM Investment Company Inc. acquired a new position in Broadwind Energy in the 2nd quarter valued at $7,270,000. Municipal Employees Retirement System of Michigan acquired a new position in Broadwind Energy in the 2nd quarter valued at $303,000. Renaissance Technologies LLC raised its stake in Broadwind Energy by 33.0% in the 1st quarter. Renaissance Technologies LLC now owns 831,190 shares of the industrial products company’s stock valued at $6,924,000 after purchasing an additional 206,200 shares during the last quarter. KCG Holdings Inc. acquired a new position in Broadwind Energy in the 1st quarter valued at $154,000. Finally, Goldman Sachs Group Inc. raised its stake in Broadwind Energy by 27.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 116,684 shares of the industrial products company’s stock valued at $972,000 after purchasing an additional 25,466 shares during the last quarter. 55.59% of the stock is owned by hedge funds and other institutional investors.

About Broadwind Energy

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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