Broadwind Energy (BWEN) Cut to Hold at Zacks Investment Research

Broadwind Energy (NASDAQ:BWEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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 subject of several other research reports. Roth Capital assumed coverage on shares of Broadwind Energy in a research report on Thursday, December 20th. They issued a “buy” rating and a $6.00 price target for the company. ValuEngine upgraded shares of Broadwind Energy from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd.

Shares of NASDAQ:BWEN opened at $1.39 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.89 and a quick ratio of 0.39. The company has a market capitalization of $21.55 million, a P/E ratio of -2.53 and a beta of 1.67. Broadwind Energy has a 52 week low of $1.15 and a 52 week high of $3.28.

An institutional investor recently raised its position in Broadwind Energy stock. Grace & White Inc. NY lifted its position in Broadwind Energy Inc. (NASDAQ:BWEN) by 16.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,812,742 shares of the industrial products company’s stock after acquiring an additional 261,755 shares during the quarter. Grace & White Inc. NY owned approximately 11.61% of Broadwind Energy worth $2,357,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 41.25% of the company’s stock.

Broadwind Energy Company Profile

Broadwind Energy, Inc provides products to the energy, mining, and infrastructure sector customers primarily in the United States. It operates through three segments: Towers and Heavy Fabrications, Gearing, and Process Systems. The Towers and Heavy Fabrications segment manufactures towers that are designed for various megawatt wind turbines primarily serving wind turbine manufacturers; and specialty fabrications and specialty weldments for mining and other industrial customers.

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