Renewable Energy Trading Alert: Broadwind Energy (NASDAQ: BWEN) has Wind Behind its Back Moving Stock over 11%
Category: Investment, Renewable Energy
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News about Broadwind Energy
New York, NY - September 11, 2012 (Investorideas.com renewable energy newswire) Investorideas.com staff - Investorideas.com, a leader in renewable energy stock research for independent investors, issues a trading alert for Broadwind Energy, Inc. (NASDAQ: BWEN). The stock is trading at $2.22, gaining 0.22 or 11.00% as of 11:16AM EDT on just over 100,000 shares. The morning high was $2.35.
The Company has faced some headwinds of its own and had to make financial and stock structural changes recently to stay in the game. In late August it announced it closed on a $20 million credit facility with AloStar Business Credit of Birmingham, Alabama. Under the terms of the credit arrangement, Broadwind will have access to up to $20 million based on a borrowing base secured by eligible trade receivables and inventories. Just prior to this announcement the company announced a reverse stock split of 1-10 in order to keeps in compliance with its NASDAQ listing.
Broadwind Energy (BWEN) applies decades of deep industrial expertise to innovate integrated solutions for customers in the energy and infrastructure markets. From gears and gearing systems for wind, oil and gas and mining applications to wind towers, to comprehensive remanufacturing of gearboxes and blades, to operations and maintenance services, and weldments, we have solutions for the energy needs of the future. With facilities throughout the U.S., Broadwind Energy's talented team of 800 employees is committed to helping customers maximize performance of their investments — quicker, easier and smarter.
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