Short Interest in Broadwind, Inc. (NASDAQ:BWEN) Drops By 11.4%

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

Institutional Trading of Broadwind

A number of institutional investors and hedge funds have recently modified their holdings of BWEN. Cubist Systematic Strategies LLC purchased a new position in Broadwind in the 2nd quarter valued at approximately $84,000. XTX Topco Ltd bought a new position in Broadwind in the 2nd quarter worth about $159,000. Renaissance Technologies LLC increased its position in shares of Broadwind by 65.2% during the second quarter. Renaissance Technologies LLC now owns 83,800 shares of the industrial products company’s stock valued at $275,000 after buying an additional 33,064 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Broadwind by 12.0% in the second quarter. Dimensional Fund Advisors LP now owns 329,592 shares of the industrial products company’s stock worth $1,081,000 after buying an additional 35,182 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Broadwind by 181.0% during the 2nd quarter. American Century Companies Inc. now owns 46,032 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 29,653 shares during the period. 33.27% of the stock is owned by hedge funds and other institutional investors.

Broadwind Stock Down 1.4 %

BWEN traded down $0.03 during trading on Thursday, hitting $2.12. 16,422 shares of the company’s stock were exchanged, compared to its average volume of 147,539. The stock has a market cap of $46.08 million, a P/E ratio of 5.51 and a beta of 1.41. The business’s 50 day moving average is $2.20 and its two-hundred day moving average is $2.77. Broadwind has a fifty-two week low of $2.01 and a fifty-two week high of $4.65. 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 (NASDAQ:BWEN) last announced its quarterly earnings results on Tuesday, August 13th. The industrial products company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $36.45 million for the quarter, compared to analysts’ expectations 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 earned $0.07 EPS. As a group, equities analysts expect that Broadwind will post 0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BWEN. Roth Mkm lowered their price objective on shares of Broadwind from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Broadwind in a research note on Wednesday, August 14th. Craig Hallum cut their price objective on shares of Broadwind from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Finally, StockNews.com lowered Broadwind from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

Broadwind Company Profile

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.