Point72 Asia Singapore Pte. Ltd. Makes New $130,000 Investment in Babcock & Wilcox Enterprises, Inc. (NYSE:BW)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Babcock & Wilcox Enterprises, Inc. (NYSE:BW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 89,330 shares of the technology company’s stock, valued at approximately $130,000. Point72 Asia Singapore Pte. Ltd. owned about 0.10% of Babcock & Wilcox Enterprises at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Babcock & Wilcox Enterprises in the 1st quarter worth about $26,000. Point72 DIFC Ltd purchased a new stake in Babcock & Wilcox Enterprises in the second quarter valued at approximately $42,000. Boston Partners increased its position in Babcock & Wilcox Enterprises by 16.0% during the first quarter. Boston Partners now owns 318,870 shares of the technology company’s stock worth $360,000 after purchasing an additional 43,880 shares during the last quarter. Millennium Management LLC increased its position in Babcock & Wilcox Enterprises by 3.8% during the second quarter. Millennium Management LLC now owns 1,852,307 shares of the technology company’s stock worth $2,686,000 after purchasing an additional 67,617 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Babcock & Wilcox Enterprises by 8.3% during the second quarter. Renaissance Technologies LLC now owns 1,075,138 shares of the technology company’s stock worth $1,559,000 after purchasing an additional 82,100 shares during the period. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BW. Craig Hallum boosted their price objective on shares of Babcock & Wilcox Enterprises from $1.50 to $2.00 and gave the company a “hold” rating in a research note on Monday, July 8th. StockNews.com raised Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th.

Babcock & Wilcox Enterprises Stock Up 9.8 %

Shares of BW stock opened at $1.97 on Friday. Babcock & Wilcox Enterprises, Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $3.63. The firm’s 50 day moving average price is $1.31 and its two-hundred day moving average price is $1.31. The stock has a market cap of $178.84 million, a price-to-earnings ratio of -0.81 and a beta of 1.72.

Babcock & Wilcox Enterprises (NYSE:BW) last posted 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 analyst estimates of $262.20 million. On average, equities analysts forecast that Babcock & Wilcox Enterprises, Inc. will post -0.03 EPS for the current fiscal year.

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.