Babcock & Wilcox Enterprises (NYSE:BW) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.48 and traded as high as $2.59. Babcock & Wilcox Enterprises shares last traded at $2.53, with a volume of 1,259,123 shares traded.

Analysts Set New Price Targets

BW has been the subject of several research analyst reports. StockNews.com upgraded Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Craig Hallum increased 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 Price Performance

The stock has a market cap of $229.81 million, a PE ratio of -1.04 and a beta of 1.74. The firm has a 50-day moving average of $1.76 and a 200-day moving average of $1.48.

Babcock & Wilcox Enterprises (NYSE:BW) last released its quarterly 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 business had revenue of $233.60 million during the quarter, compared to analyst estimates of $262.20 million. Equities analysts forecast that Babcock & Wilcox Enterprises, Inc. will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Babcock & Wilcox Enterprises by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 3,379,556 shares of the technology company’s stock valued at $3,819,000 after purchasing an additional 352,607 shares during the last quarter. Russell Investments Group Ltd. increased 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 purchasing an additional 196,408 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Babcock & Wilcox Enterprises during the 1st quarter valued at approximately $26,000. Boston Partners increased its position in shares of Babcock & Wilcox Enterprises by 16.0% during the 1st quarter. Boston Partners now owns 318,870 shares of the technology company’s stock valued at $360,000 after purchasing an additional 43,880 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Babcock & Wilcox Enterprises during the 1st quarter valued at approximately $122,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

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.