Broadwind Energy Inc. (BWEN) Stake Owned by Tontine Capital Management LLC
Tontine Capital Management LLC
disclosed that they own 5% of Broadwind Energy Inc. (NASDAQ:BWEN) in a Schedule 13D/A disclosure that was filed with the SEC on Wednesday, December 20th. The investor owns 754,521 shares of the stock worth about $1,863,667. The reporting parties listed on the disclosure included Tontine Capital Management, LLC, Tontine Management, LLC, Tontine Capital Overseas Master Fund II, LP, Tontine Asset Associates, LLC, Tontine Associates, LLC and Jeffrey L Gendell. The disclosure is available through the SEC website at this link.
provided the following explanation of their ownership:
Several other institutional investors have also recently made changes to their positions in the company. AWM Investment Company Inc. bought a new position in shares of Broadwind Energy in the second quarter worth approximately $7,270,000. Numeric Investors LLC increased its position in shares of Broadwind Energy by 60.3% in the second quarter. Numeric Investors LLC now owns 818,074 shares of the industrial products company’s stock worth $4,123,000 after purchasing an additional 307,687 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Broadwind Energy by 222.8% in the second quarter. Dimensional Fund Advisors LP now owns 353,955 shares of the industrial products company’s stock worth $1,784,000 after purchasing an additional 244,298 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Broadwind Energy by 63.9% in the second quarter. Vanguard Group Inc. now owns 589,115 shares of the industrial products company’s stock worth $2,969,000 after purchasing an additional 229,664 shares during the last quarter. Finally, Grace & White Inc. NY increased its position in shares of Broadwind Energy by 31.9% in the third quarter. Grace & White Inc. NY now owns 932,077 shares of the industrial products company’s stock worth $3,020,000 after purchasing an additional 225,564 shares during the last quarter. 52.96% of the stock is currently owned by hedge funds and other institutional investors.
Broadwind Energy Inc. (BWEN) opened at $2.47 on Wednesday. Broadwind Energy Inc. has a 52-week low of $2.34 and a 52-week high of $9.80. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.02.
Broadwind Energy (NASDAQ:BWEN) last issued its quarterly earnings results on Tuesday, October 31st. The industrial products company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Broadwind Energy had a net margin of 2.05% and a negative return on equity of 1.31%. The business had revenue of $29.60 million for the quarter, compared to analysts’ expectations of $29.84 million. During the same period last year, the business earned $0.08 earnings per share. The business’s quarterly revenue was down 30.4% on a year-over-year basis. research analysts forecast that Broadwind Energy Inc. will post -0.07 earnings per share for the current year.
Several research analysts recently weighed in on the stock. ValuEngine cut shares of Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Finally, Roth Capital set a $5.00 price target on shares of Broadwind Energy and gave the company a “buy” rating in a research report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $6.50.
Broadwind Energy 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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