Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Sees Significant Increase in Short Interest

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 5,540,000 shares, an increase of 14.5% from the March 31st total of 4,840,000 shares. Approximately 6.6% of the shares of the stock are short sold. Based on an average daily volume of 1,620,000 shares, the days-to-cover ratio is currently 3.4 days.

Babcock & Wilcox Enterprises Stock Down 1.9 %

Shares of BW traded down $0.02 during trading hours on Monday, reaching $1.02. The company’s stock had a trading volume of 485,393 shares, compared to its average volume of 1,485,410. The firm has a market cap of $91.27 million, a price-to-earnings ratio of -0.43 and a beta of 1.36. The company has a 50 day moving average of $1.14 and a two-hundred day moving average of $1.48. Babcock & Wilcox Enterprises has a 1-year low of $0.75 and a 1-year high of $6.64.

Babcock & Wilcox Enterprises (NYSE:BW) last posted its quarterly earnings results on Thursday, March 14th. The technology company reported ($0.22) earnings per share for the quarter. The firm had revenue of $227.20 million for the quarter, compared to analyst estimates of $255.20 million. As a group, analysts forecast that Babcock & Wilcox Enterprises will post 0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BW has been the topic of several recent analyst reports. Lake Street Capital cut their price objective on Babcock & Wilcox Enterprises from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. DA Davidson cut their target price on shares of Babcock & Wilcox Enterprises from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. Finally, StockNews.com raised Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a research report on Friday, April 12th.

Insider Buying and Selling at Babcock & Wilcox Enterprises

In other news, CEO Kenneth M. Young bought 29,229 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were purchased at an average cost of $1.03 per share, with a total value of $30,105.87. Following the completion of the acquisition, the chief executive officer now directly owns 241,745 shares in the company, valued at $248,997.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders bought 59,229 shares of company stock valued at $62,006. 4.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Babcock & Wilcox Enterprises

Several institutional investors have recently made changes to their positions in BW. Assenagon Asset Management S.A. lifted its stake in shares of Babcock & Wilcox Enterprises by 225.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,924,748 shares of the technology company’s stock valued at $2,810,000 after purchasing an additional 1,334,240 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Babcock & Wilcox Enterprises by 1,398,050.0% during the fourth quarter. Russell Investments Group Ltd. now owns 671,112 shares of the technology company’s stock valued at $980,000 after buying an additional 671,064 shares in the last quarter. Gendell Jeffrey L lifted its position in shares of Babcock & Wilcox Enterprises by 728.5% in the third quarter. Gendell Jeffrey L now owns 579,937 shares of the technology company’s stock worth $2,442,000 after buying an additional 509,937 shares during the last quarter. CastleKnight Management LP bought a new stake in shares of Babcock & Wilcox Enterprises during the 4th quarter worth about $744,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Babcock & Wilcox Enterprises by 116.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 746,421 shares of the technology company’s stock valued at $1,090,000 after acquiring an additional 402,350 shares during the last quarter. 83.17% of the stock is currently owned by institutional investors and hedge funds.

Babcock & Wilcox Enterprises Company Profile

Babcock & Wilcox Enterprises, Inc, together with its subsidiaries, provides energy and emissions control solutions to industrial, electrical utility, municipal, and other customers worldwide. The company operates through three segments: Babcock & Wilcox Renewable; Babcock & Wilcox Environmental; and Babcock & Wilcox Thermal.