Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Short Interest Update

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BW. Connor Clark & Lunn Investment Management Ltd. grew its stake in 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 acquiring an additional 14,211 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Babcock & Wilcox Enterprises by 662.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,403 shares of the technology company’s stock worth $27,000 after purchasing an additional 15,990 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in Babcock & Wilcox Enterprises in the 4th quarter valued at about $27,000. Weiss Asset Management LP purchased a new stake in Babcock & Wilcox Enterprises during the 4th quarter worth approximately $28,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Babcock & Wilcox Enterprises during the first quarter valued at approximately $26,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. DA Davidson decreased their price objective on Babcock & Wilcox Enterprises from $4.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, March 19th. StockNews.com downgraded Babcock & Wilcox Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Lake Street Capital cut their price objective on shares of Babcock & Wilcox Enterprises from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, April 11th.

Babcock & Wilcox Enterprises Stock Up 14.1 %

Shares of BW traded up $0.22 during trading hours on Wednesday, reaching $1.78. 1,582,506 shares of the company traded hands, compared to its average volume of 1,444,674. The stock has a market capitalization of $162.00 million, a P/E ratio of -0.71 and a beta of 1.71. The business has a fifty day moving average price of $1.27 and a 200-day moving average price of $1.25. Babcock & Wilcox Enterprises has a 12-month low of $0.75 and a 12-month high of $6.58.

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