Broadwind’s (BWEN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Broadwind (NASDAQ:BWENFree Report) in a research report released on Wednesday, Benzinga reports. HC Wainwright currently has a $8.00 price target on the industrial products company’s stock. HC Wainwright also issued estimates for Broadwind’s Q1 2024 earnings at ($0.07) EPS, Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.02) EPS, Q4 2024 earnings at $0.00 EPS, FY2024 earnings at ($0.13) EPS and FY2025 earnings at $0.44 EPS.

Several other equities research analysts have also issued reports on the company. Craig Hallum dropped their price objective on Broadwind from $6.00 to $5.00 and set a buy rating for the company in a research note on Wednesday. Roth Mkm dropped their price target on Broadwind from $4.00 to $3.50 and set a buy rating for the company in a research note on Wednesday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $5.50.

View Our Latest Stock Analysis on Broadwind

Broadwind Price Performance

NASDAQ:BWEN opened at $2.37 on Wednesday. The firm has a market capitalization of $51.12 million, a price-to-earnings ratio of 6.58 and a beta of 1.35. Broadwind has a 52-week low of $2.01 and a 52-week high of $5.64. The stock has a fifty day moving average of $2.50 and a 200 day moving average of $2.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.71 and a current ratio of 1.30.

Broadwind (NASDAQ:BWENGet Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $46.60 million during the quarter, compared to analyst estimates of $50.34 million. Broadwind had a return on equity of 16.15% and a net margin of 3.76%. During the same quarter last year, the company earned ($0.14) earnings per share. On average, research analysts expect that Broadwind will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Broadwind

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of Broadwind in the first quarter worth about $31,000. Virtu Financial LLC purchased a new position in shares of Broadwind in the fourth quarter worth about $36,000. Algert Global LLC purchased a new position in shares of Broadwind in the third quarter worth about $38,000. TSA Wealth Managment LLC purchased a new position in shares of Broadwind in the fourth quarter worth about $41,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Broadwind in the first quarter worth about $46,000. Institutional investors own 31.95% of the company’s stock.

Broadwind Company Profile

(Get Free Report)

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.

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