The technical action in shares of Broadwind Energy (BWEN) has been much improved in recent months and it appears the stock is in the process of another leg up after the company announced a $23 million order it received in Q4. Shares had been consolidating, but are breaking out of consolidation off key support of the 50 day moving average with heavy volume today.
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The company … Read the rest
Shares of Broadwind Energy (BWEN) are spiking today on news the DOE has awarded the company a $1.37 million contract for the design and construction of a 5.8MW wind turbine gearbox for a new dynamometer at its National Wind Technology Center. The facility provides the wind energy industry with customized testing with the dynamometer allowing companies to verify the performance and reliability of wind turbine drivetrain prototypes.
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Broadwind Energy (BWEN) surprised a bit this morning posting a doubling of revenues over the year ago quarter and beating analyst estimates in the process with $43.5 million in revenues. That’s good news for Broadwind and the wind energy industry as a whole, but the company still failed to turn a profit and posted a wider EPS loss than analysts expected (loss of .04, analysts expected .02/share loss. Traders focused on the positive of this … Read the rest
Broadwind Energy (BWEN) it was selected by Vestas Wind (VWDRY) to be the wind tower supplier for the Glacier Hills Wind Park in Wisconsin. The 90 turbine project is expected to generate enough renewable electricity to power nearly 50K homes.
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Jess Collins, executive vice president and chief operating officer at Broadwind, stated, “We congratulate Vestas for moving this key wind project forward. As a … Read the rest
Shares of Broadwind Energy (BWEN) are surging 10% in pre-market trading and will get back above the 50 day moving average after it was announced that they will supply the wind towers for projects in the US being developed by Gamesa Technology , a global manufacturer of wind turbine generators. The towers will be constructed by Broadwind’s Tower Tech subsidiary and are expected to be delivered in the 4th quarter this year. No word on … Read the rest
Broadwind Energy (BWEN) recorded another quarter of losses and profitability isn’t looking likely until at least 2011. Subtracting one time items the company posted a loss .11/share, which was .04/share more than what analysts expected. Revenues missed badly as well coming in at $32.95 million, missing estimates of $46 million. This is a company making no progress and even took a step backwards last quarter.
The CEO explained the poor performance: “Broadwind was significantly impacted … Read the rest
Broadwind Enregy just announced that they are extending their Repair and Engineering Services to offer enhanced megawatt (MW) gearbox repair and refurbishment capabilities. Currently, these services are performed outside of the US. Broadwind Energy believes that it is the first independent wind energy product/service provider to offer this service inside the US. The company expects to have these services available by the latter half of this year, and will be able to offer around 500 … Read the rest
There’s a good piece from Eric Savitz over at Barron’s discussing the loss of business Broadwind Energy (BWEN) faces following the cancellation by Boone Pickens of half of that large, $2 billion wind turbine order from GE. Broadwind supplies parts to GE for these turbines and the stock is getting hit as a result. The selling picked up yesterday and continues today with record sell volume. A return to the November lows appears inevitable.
Savitz … Read the rest
Broadwind Energy (BWEN) is another very bullish looking green stock (the only stock traded on a major US exchange that’s a wind energy pure play that I’m aware of) that has broken out of a series of bullish triangle patterns over the past several months. The first breakout point occurred in early April on a break above around 4.25, the 2nd breakout occurred in mid May just above 8 and a 3rd breakout has triggered … Read the rest