Posts Tagged ‘BWEN’

SYNO ticks upward, NVDA flies off shelves, BWEN windblown

Wednesday, February 23rd, 2011

Synovis Life Technologies Inc. (Nasdaq: SYNO) shares were up 10.5% to $18.38, on share volume of more than 154,000 shares, or better than five times its average, after the medical-equipment maker on Wednesday reported first-quarter profit that topped estimates.

Nvidia Corporation (Nasdaq: NVDA) traded Wednesday in 37.2 million shares, besting a daily average of 26.5 million. Prices for NVDA eased 4.7% to $22.11

Broadwind Energy Inc. (Nasdaq: BWEN) subtracted 12.4% to $1.55 Wednesday, on share volume of nearly 1.6 million, beating its daily average of about 893,000.

Broadwind Energy, Inc. (BWEN) – Buzz Stock of the Day

Tuesday, July 6th, 2010

Shares of wind power equipment manufacturer, Broadwind Energy, Inc. were up about 37 percent from Friday’s close, in morning trading on Tuesday, after the company announced its subsidiary, Tower Tech, Inc., was selected by Gamesa Technology Corp., a wholly owned U.S. subsidiary of Gamesa Corporacion Tecnologica, to supply structural wind towers for wind sites in the U.S. The towers are expected to be installed in the fourth quarter. The value of the contract was not disclosed.

“Proven experience, flexibility and well-established competencies were key elements in our decision to select Broadwind’s Tower Tech subsidiary to construct our next-generation towers for these projects,” said Jim Buddelmeyer, vice president of purchasing at Gamesa.

The Gamesa deal doesn’t relate directly to sales of wind turbines by Broadwind Energy, Inc., but it was much-needed good news for the green energy stock, which has lost more than half of its value year-to-date.


Last year was a record-breaking year for the wind power industry, with about 9.8 gigawatts installed. But the industry is in for a 40 to 60% drop this year, with analysts expecting anywhere from 6.3 GW to 7.1 GW to be installed. Key states including Texas, Minnesota and California have historically been wind hot spots. However, tepid utility demand, inexpensive natural gas and transmission congestion have led to a reduction in the number of power purchase agreements that have been signed. While the U.S. has expansive coastal wind resources, offshore is expected to account for only 5 percent of installations by 2025.

Although there have been unprecedented levels of federal support for wind energy, without a federal renewable portfolio standard [RPS] and streamlined transmission and siting processes, the time for projects to become operational will be greatly delayed. According to Bloomberg New Energy Finance: “To compete in the era of low-priced natural gas, the levelised cost of wind generation must drop substantially on a MWh basis. This means the industry cannot sit on its laurels but must re-dedicate itself to technological innovation.”

Trading in Broadwind shares remains volatile, however, trading well below the $8.12 share price at which Broadwind Energy was trading at the onset of 2010. Broadwind shares have traded at $4.00 or below since March.

Broadwind Energy, Inc. was first covered as Buzz Stock of the Day in June 2009, after the company announced a realignment of its management team to advance its business development, international and technology efforts.

Buzz Stock of the Day- Broadwind Energy (BWEN)

Friday, June 26th, 2009

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.

Click here to sign up for daily micro-cap picks from the top newsletters on the Street, and a chance to win a free iPhone 3GS!