Broadwind (NASDAQ:BWEN) updated its second quarter 2021 earnings guidance on Friday. The company provided EPS guidance of – for the period. The company issued revenue guidance of $45 million-$50 million, compared to the consensus revenue estimate of $42.73 million.
Shares of NASDAQ BWEN traded down $0.15 during mid-day trading on Friday, reaching $4.22. 652,939 shares of the company were exchanged, compared to its average volume of 332,150. Broadwind has a 1 year low of $2.03 and a 1 year high of $12.89. The firm has a 50-day moving average of $5.17 and a 200 day moving average of $6.29. The stock has a market cap of $78.03 million, a price-to-earnings ratio of -19.18 and a beta of 1.32. The company has a quick ratio of 0.44, a current ratio of 1.13 and a debt-to-equity ratio of 0.25.
Broadwind (NASDAQ:BWEN) last announced its earnings results on Thursday, May 6th. The industrial products company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.10. The company had revenue of $32.73 million during the quarter, compared to the consensus estimate of $37.42 million. Broadwind had a negative net margin of 2.00% and a negative return on equity of 8.55%. On average, equities analysts forecast that Broadwind will post 0.08 earnings per share for the current year.
BWEN has been the subject of several research analyst reports. Zacks Investment Research raised shares of Broadwind from a sell rating to a hold rating in a research report on Thursday, May 13th. Roth Capital reduced their price objective on shares of Broadwind from $10.00 to $8.00 and set a buy rating for the company in a research report on Monday, May 17th. Finally, HC Wainwright lowered shares of Broadwind from a buy rating to a neutral rating in a research report on Tuesday, January 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $6.67.
In related news, Director Stephanie K. Kushner sold 17,500 shares of the stock in a transaction that occurred on Monday, April 19th. The stock was sold at an average price of $4.90, for a total value of $85,750.00. Following the completion of the transaction, the director now directly owns 478,036 shares in the company, valued at $2,342,376.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.10% of the company’s stock.
An institutional investor recently raised its position in Broadwind stock. Morgan Stanley raised its stake in shares of Broadwind, Inc. (NASDAQ:BWEN) by 402.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,400 shares of the industrial products company’s stock after acquiring an additional 5,125 shares during the period. Morgan Stanley’s holdings in Broadwind were worth $42,000 as of its most recent SEC filing. 45.99% of the stock is owned by institutional investors.
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; and steel towers and adapters primarily to wind turbine manufacturers.
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