Essex Investment Management Co. LLC Decreases Position in Broadwind, Inc. (NASDAQ:BWEN)

Essex Investment Management Co. LLC lowered its position in Broadwind, Inc. (NASDAQ:BWEN) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,782 shares of the industrial products company’s stock after selling 7,030 shares during the quarter. Essex Investment Management Co. LLC owned 0.27% of Broadwind worth $114,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Broadwind by 6.0% during the third quarter. Geode Capital Management LLC now owns 227,738 shares of the industrial products company’s stock worth $517,000 after acquiring an additional 12,936 shares during the last quarter. Empowered Funds LLC raised its position in shares of Broadwind by 52.7% during the 3rd quarter. Empowered Funds LLC now owns 81,211 shares of the industrial products company’s stock worth $184,000 after purchasing an additional 28,021 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Broadwind by 26.9% during the 3rd quarter. GSA Capital Partners LLP now owns 150,079 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 31,792 shares during the last quarter. Finally, Grace & White Inc. NY lifted its stake in Broadwind by 15.5% in the 4th quarter. Grace & White Inc. NY now owns 1,980,599 shares of the industrial products company’s stock valued at $3,724,000 after buying an additional 265,344 shares in the last quarter. Institutional investors and hedge funds own 33.27% of the company’s stock.

Broadwind Stock Down 1.9 %

Shares of NASDAQ BWEN opened at $1.53 on Monday. The firm has a market cap of $33.83 million, a P/E ratio of 10.93 and a beta of 1.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.52 and a current ratio of 1.50. Broadwind, Inc. has a 1 year low of $1.46 and a 1 year high of $4.65. The firm’s 50 day moving average price is $1.77 and its 200 day moving average price is $1.91.

Broadwind (NASDAQ:BWEN) last posted its quarterly earnings data on Wednesday, March 5th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.04. The business had revenue of $33.57 million for the quarter, compared to analysts’ expectations of $31.54 million. Broadwind had a return on equity of 5.39% and a net margin of 2.01%. As a group, sell-side analysts anticipate that Broadwind, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright cut their price target on Broadwind from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday.

Broadwind 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.