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

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) saw a large drop in short interest in June. As of June 15th, there was short interest totalling 3,730,000 shares, a drop of 9.2% from the May 31st total of 4,110,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is presently 3.3 days.

Babcock & Wilcox Enterprises Stock Up 14.1 %

NYSE:BW traded up $0.22 during mid-day trading on Wednesday, reaching $1.78. 1,582,491 shares of the stock were exchanged, compared to its average volume of 1,444,674. The company has a 50 day simple moving average of $1.27 and a 200-day simple moving average of $1.25. The stock has a market capitalization of $162.00 million, a P/E ratio of -0.71 and a beta of 1.71. Babcock & Wilcox Enterprises has a 1 year low of $0.75 and a 1 year high of $6.58.

Babcock & Wilcox Enterprises (NYSE:BW) last released its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.12). The company had revenue of $207.60 million during the quarter, compared to analysts’ expectations of $226.70 million. As a group, research analysts predict that Babcock & Wilcox Enterprises will post 0.35 EPS for the current year.

Analyst Ratings Changes

BW has been the topic of a number of analyst reports. Lake Street Capital reduced their price target on 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 cut their target price on Babcock & Wilcox Enterprises from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, March 19th. Finally, StockNews.com lowered Babcock & Wilcox Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Babcock & Wilcox Enterprises by 15.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,942 shares of the technology company’s stock valued at $450,000 after purchasing an additional 14,211 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Babcock & Wilcox Enterprises by 662.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,403 shares of the technology company’s stock valued at $27,000 after buying an additional 15,990 shares in the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of Babcock & Wilcox Enterprises in the fourth quarter valued at approximately $27,000. Weiss Asset Management LP purchased a new stake in shares of Babcock & Wilcox Enterprises in the fourth quarter valued at approximately $28,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Babcock & Wilcox Enterprises in the first quarter valued at approximately $26,000. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

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.