Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Short Interest Up 14.5% in April

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BW. Lake Street Capital lowered their target price on shares of Babcock & Wilcox Enterprises from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. DA Davidson dropped their price objective 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 upgraded shares of Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a research note on Friday, April 12th.

Insiders Place Their Bets

In other Babcock & Wilcox Enterprises news, CEO Kenneth M. Young purchased 29,229 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were bought at an average cost of $1.03 per share, for a total transaction of $30,105.87. Following the completion of the purchase, the chief executive officer now directly owns 241,745 shares in the company, valued at $248,997.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought 59,229 shares of company stock worth $62,006 in the last 90 days. Corporate insiders own 4.26% of the company’s stock.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

A number of institutional investors have recently made changes to their positions in BW. B. Riley Financial Inc. raised its holdings in Babcock & Wilcox Enterprises by 0.6% in the 4th quarter. B. Riley Financial Inc. now owns 27,446,522 shares of the technology company’s stock valued at $40,072,000 after acquiring an additional 157,883 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Babcock & Wilcox Enterprises by 225.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,924,748 shares of the technology company’s stock worth $2,810,000 after buying an additional 1,334,240 shares during the period. Los Angeles Capital Management LLC boosted its stake in Babcock & Wilcox Enterprises by 116.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 746,421 shares of the technology company’s stock worth $1,090,000 after buying an additional 402,350 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Babcock & Wilcox Enterprises by 1,398,050.0% in the 4th 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 during the period. Finally, Gendell Jeffrey L raised its stake in Babcock & Wilcox Enterprises by 728.5% during the third quarter. Gendell Jeffrey L now owns 579,937 shares of the technology company’s stock worth $2,442,000 after purchasing an additional 509,937 shares during the period. 83.17% of the stock is owned by institutional investors and hedge funds.

Babcock & Wilcox Enterprises Stock Performance

BW traded down $0.02 on Monday, hitting $1.02. 485,393 shares of the company were exchanged, compared to its average volume of 1,485,410. Babcock & Wilcox Enterprises has a fifty-two week low of $0.75 and a fifty-two week high of $6.64. The firm has a market capitalization of $91.27 million, a P/E ratio of -0.43 and a beta of 1.36. The business’s fifty day moving average is $1.14 and its 200 day moving average is $1.48.

Babcock & Wilcox Enterprises (NYSE:BW) last posted its earnings results on Thursday, March 14th. The technology company reported ($0.22) earnings per share for the quarter. The business had revenue of $227.20 million during the quarter, compared to the consensus estimate of $255.20 million. Analysts forecast that Babcock & Wilcox Enterprises will post 0.35 EPS for the current fiscal year.

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.