WEEKLY DYNAMIC CHART: Broadwind Energy, Inc. provides products to the energy, mining, and infrastructure sector customers primarily in the United States. It operates through two segments, Towers and Weldments, and Gearing. The Towers and Weldments segment manufactures towers that are designed for various megawatt wind turbines, as well as specialty fabrications and specialty weldments for mining and other industrial customers. The Gearing segment engineers, builds, and remanufactures precision gears and gearing systems for oil and gas, wind energy, mining, steel, and other industrial applications. The company serves various wind energy customers, such as wind turbine manufacturers, wind farm operators, and wind farm developers. Broadwind Energy, Inc. sells its products through its sales force and manufacturers' representatives. The company was formerly known as Tower Tech Holdings Inc. and changed its name to Broadwind Energy, Inc. in 2008. Broadwind Energy, Inc. is headquartered in Cicero, Illinois.
Don't know how I missed this thread... Wish Ida seen it sooner! Lookit.... There's me trying to read a P&F chart with BWEN standing behind me I got out at $7.11... Thought I did good!.... Until today
As Tom O'Brien used to, and probably still does, say, "There's always another trade." I haven't listened or watched Tom in a long time; maybe I'll check in and watch a little Tiger TV at TFNN.com
Printed a high on Fryday (end of month) at the round number of 8.50 and closed at 8.33; high range on the daily bar. Looks bullish on the daily but could be a buying climax. It overshot the P&F target of 7.75 so it should be running out of juice and it did spend the afternoon trading heavily with no price effect. The volatility in the afternoon was increased also, indicating public involvement. I'm kinda thinking the P&F objective is valid here and the smart money was pushing shares out to the momo-monkeys. Daily: 30-minute sticks:
Highest volume day of the year And the 5 minute chart shows almost HALF that volume in TEN MINUTES!!! If that's not unloading, then I don't know what is
Good point about that 10 minute period (2 bars). I embellished it some below. The E vs R indicating the Effort versus Result bar which was the big clue. The big greeny was probably selling by the CM also, as you say.
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Liking BWEN here with recent analyst activity, Biden alternative energy focus and possible tailwinds of his campaign, and decent chart at 20ma and trend line support. Other thoughts with Dominion Energy being big in wind and selling gas pipeline to Berkshire and Dakota Access pipeline being ditched will that lead to filling the funnel with more wind? Companies shift to ESG good for alternative energy? Good valuation at first glance based on P/CF being 5.34 and 4.5 - 6x 2021 EV/EBITDA would give it $5.95 Roth capital has been silent on this stock after issuing a Buy rating and $6 target in 2017 --Possible deal activity? Speculation I know, but on a P/CF and EV/EBITDA basis its possible Got these valuation and the Roth spec idea from Steve Zachritz Z4Energy Research (on Seeking Alpha) Revenue breakdown (from May 2020 company presentation) 68% of revenue comes from wind 10% Mining (miners and metals are hot!) 8% Power generation 6% industrial, 6% oil and gas, 2% construction Doing more research to see if I'll buy more but like this entry point at $4.78
Last conference call sounded great, they added another key customer (currently have 3/4 top wind OEMs). They kept mentioning offshore market growth and that they will be coming up with a way to meet the growing offshore wind market demand so an exciting product launch should be coming out by year end. The worries from the last qtr call were slowdown from lower oil prices and covid supply chain issues, even though they were diversified out of China because of Trump's earlier tariffs. These worries seem to be clear now that oil has picked back up, supply chains have resumed, and with the extra strength in the metals market their mining segment should be doing great. Justin Clare from Roth Capital was the only analyst in the Q&A so this makes me more excited about Roth's recent silence and hoping they release a note soon with the increased attention towards BWEN, otherwise something may actually to be going on. Could be M&A or could be a capital raise. They told Justin they could meet 100% capacity as long as their supply chain resumed in 2-3 months...That was end of March. Looking forward to Siemens Gamesa (SGRE.MC) conference call this Thursday July 30th as they are a major customer. Their future depends on wind projects being won around the country which could drastically change with Biden's 2 trillion climate change plan. Any thoughts from people that have been watching this?
Well, I doubt its a capital raise, they've had an agreement to sell $10MM since 2018 and still haven't used it. Offshore product launch then a capital raise? Or no capital raise and M&A deal pending? Wind is obviously a very hot sector in the US and around the world. Roth has coverage on other names that they have deals with. So still an interesting case. As of their March 2020 10-Q On July 31, 2018, the Company entered into an At Market Issuance Sales Agreement (the “ATM Agreement”) with Roth Capital Partners, LLC (the “Agent”). Pursuant to the terms of the ATM Agreement, the Company may sell from time to time through the Agent shares of the Company’s common stock, par value $0.001 per share with an aggregate sales price of up to $10,000,000. The Company will pay a commission to the Agent of 3% of the gross proceeds of the sale of the shares sold under the ATM Agreement and reimburse the Agent for the expenses of their counsel. As of March 31, 2020, the Company’s common stock having a value of approximately $9,967,000 remained available for issuance with respect to the ATM Agreement. The Company has not used the ATM Agreement in 2019 or 2020.
7% sell off premarket, looks like its low volume... Thought I saw good results out of Siemens Gamsa North America. Also GE had good wind results in their quarterly results yesterday. Just saw a really low print in BWEN though. Need to look into this more but no time right now. Hopefully just a blip. Siemens is up in Europe. Hmm
Got out of the name because of the break in the trendline. Looking to get back in at $4 level (fib retracement) and nearest whole number. Its down on low volume, especially when compared with new volume levels after the recent analyst coverage. But its run up too much and can't help but see it drifting to $4 with profit taking before earnings announcement Wed Aug 5th before the open. Wind is here to stay. Nordex (major BWEN customer) is up 20% today on the backs of a big $475MM contract across Europe. Not going to affect BWEN but very positive for the sector. Looking for re-entry soon closer to $4 soon!
