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

Broadwind, Inc. (NASDAQ:BWEN) saw a large 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. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 131,300 shares, the short-interest ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

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

Broadwind Trading Down 1.4 %

Shares of BWEN traded down $0.03 during mid-day trading on Thursday, hitting $2.12. 16,422 shares of the company’s stock traded hands, compared to its average volume of 147,539. The business’s 50-day moving average price is $2.20 and its 200-day moving average price is $2.77. Broadwind has a 1 year low of $2.01 and a 1 year high of $4.65. The firm has a market capitalization of $46.08 million, a P/E ratio of 5.51 and a beta of 1.41. 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 posted its earnings results on Tuesday, August 13th. The industrial products company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Broadwind had a net margin of 4.19% and a return on equity of 13.11%. The firm had revenue of $36.45 million during the quarter, compared to analysts’ expectations of $37.13 million. During the same period last year, the company posted $0.07 EPS. As a group, sell-side analysts forecast that Broadwind will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Lincoln Capital Corp purchased a new stake in Broadwind in the first quarter worth $49,000. Ritholtz Wealth Management bought a new position in shares of Broadwind in the 2nd quarter worth about $83,000. Cubist Systematic Strategies LLC purchased a new position in Broadwind during the 2nd quarter valued at about $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 period. Finally, XTX Topco Ltd bought a new stake in shares of Broadwind in the 2nd quarter worth approximately $159,000. Hedge funds and other institutional investors own 33.27% of the company’s stock.

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.