Buzz Stock of the Day- Broadwind Energy (BWEN)

Shares of Broadwind Energy, Inc. (Nasdaq: BWEN) were up more than 35 percent today.

Earlier this week, the Naperville-based wind energy company announced a realignment of its management team to advance its business development, international and technology efforts.

“Our new management structure provides the framework for pursuing international business opportunities so that we can better serve our customers, enhance our supply chain and develop additional synergies among our subsidiary companies,” said CEO J. Cameron Drecoll in a statement.

Among the recent changes were the appointment of former Chief Operations Officer, Lars Moller to President, Technology and International, a position in which he will focus his efforts on Broadwind Energy’s technology leadership and international expansion; Jess Collins who was named Group President for three Broadwind subsidiary companies – Tower Tech Systems, RBA and Badger Transport; and Don Naab, who has been named Group President for Broadwind’s Brad Foote Gear Works and EMS subsidiary companies.

Despite a first quarter net loss of $7.2 million, or 7 cents a share, Broadwind reported revenue of $53.1 million, up 51 percent over the same period last year.

A recent article stated that Broadwind, which is a maker of turbine gearing, stands to see substantial growth if the sector finds the legs so many politicians pushing.

Shares of BWEN are up more than 200 percent in the past three months.

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Tags: alternative energy, buzz stocks, BWEN, Energy Stocks, green stocks, nasdaq

This entry was posted on Friday, June 26th, 2009 at 5:11 pm by admin and is filed under Energy Stocks, Technology Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.