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

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 1,800,000 shares, a drop of 30.2% from the August 31st total of 2,580,000 shares. Based on an average trading volume of 1,480,000 shares, the days-to-cover ratio is presently 1.2 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Craig Hallum raised their target price on Babcock & Wilcox Enterprises from $1.50 to $2.00 and gave the stock a “hold” rating in a research report on Monday, July 8th.

Babcock & Wilcox Enterprises Stock Down 1.9 %

NYSE:BW traded down $0.04 during mid-day trading on Friday, hitting $1.78. 730,648 shares of the company traded hands, compared to its average volume of 1,379,834. The stock’s fifty day moving average price is $1.28 and its 200-day moving average price is $1.29. Babcock & Wilcox Enterprises has a one year low of $0.75 and a one year high of $4.32. The firm has a market cap of $161.55 million, a price-to-earnings ratio of -0.74 and a beta of 1.72.

Babcock & Wilcox Enterprises (NYSE:BW) last issued its earnings results on Thursday, August 8th. The technology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.19). The company had revenue of $233.60 million for the quarter, compared to the consensus estimate of $262.20 million. Equities analysts predict that Babcock & Wilcox Enterprises will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Weiss Asset Management LP bought a new position in shares of Babcock & Wilcox Enterprises during the 4th quarter valued at about $28,000. Aristides Capital LLC purchased a new position in Babcock & Wilcox Enterprises during the 4th quarter valued at approximately $164,000. CastleKnight Management LP bought a new stake in Babcock & Wilcox Enterprises in the 4th quarter worth approximately $744,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Babcock & Wilcox Enterprises during the 1st quarter worth approximately $26,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Babcock & Wilcox Enterprises by 29.3% during the 1st quarter. Russell Investments Group Ltd. now owns 867,520 shares of the technology company’s stock valued at $980,000 after acquiring an additional 196,408 shares during the last quarter. 83.17% of the stock is owned by hedge funds and other institutional investors.

About Babcock & Wilcox Enterprises

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.