This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Wind Stocks: Bottom-Fishing, Big Orders

(Wind power stock story, updated for market close)
NEW YORK (TheStreet) -- Wednesday was a day for bottom-fishing in wind stocks and big orders being reported by the wind energy sector.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Shares of beaten-down wind stocks China Ming Yang Wind Power (MY) and Broadwind Energy (BWEN) were up big on Wednesday.

China Ming Yang shares -- which have declined 16% year-to-date since the company's initial public offering -- ended Wednesday's trading up 6.6% and surpassed their average daily trading volume before the midday mark. In all, triple the average Ming Yang Wind Power shares were traded on Wednesday.

Broadwind Energy shares, down an unenviable 70% this year, were up close to 6% on Wednesday and saw a similar trading spike -- with more than 2.3 million shares traded, three times its average volume. It was the second consecutive trading session during which Broadwind trading eclipsed the two million share mark, and it's the first time that has happened since October.

It was a notable day of trading in the depressed U.S.-traded wind energy stocks, especially since overall market trading is unusually light during the holiday week. However, it's not an atypical occurrence for shares of these two companies to see elevated trading, and quickly give back those gains.

Broadwind ended trading on Wednesday at a share price of $2.27, which it hadn't seen since October.

Broadwind announced on Tuesday that it had received a government grant to support its drive-train service center in Abilene, Texas.

If there was major news in the U.S. wind market on Wednesday, though, it didn't involve Broadwind Energy. Berkshire Hathaway (BRK.B) energy subsidiary MidAmerican Energy announced a major purchase of wind turbines from Broadwind competitor Siemens (SI).

While Broadwind doesn't build its own turbines, it does supply gear boxes and other components to turbine manufacturers like Siemens. Siemens owns its own gear box manufacturer. While Broadwind listed Siemens among its stable of "current and historic" customers in its last annual report, it did not single out Siemens as a customer that accounted for more than 10% of revenue.

The Berkshire Hathaway energy affiliate is purchasing 258 wind turbines from Siemens and acquiring wind power projects in Iowa with a total capacity of 593 megawatts, MidAmerican Energy announced on Wednesday.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,079.57 -42.44 -0.25%
S&P 500 1,996.74 -3.38 -0.17%
NASDAQ 4,557.6950 -11.9260 -0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs