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

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) was the target of a large decline in short interest during the month of 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.

Babcock & Wilcox Enterprises Price Performance

BW traded up $0.22 on Wednesday, reaching $1.78. 1,582,506 shares of the company traded hands, compared to its average volume of 1,444,674. Babcock & Wilcox Enterprises has a 52-week low of $0.75 and a 52-week high of $6.58. The stock’s 50 day moving average price is $1.27 and its 200-day moving average price is $1.25. The company has a market cap of $162.00 million, a price-to-earnings ratio of -0.71 and a beta of 1.71.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in shares of Babcock & Wilcox Enterprises by 225.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,924,748 shares of the technology company’s stock worth $2,810,000 after purchasing an additional 1,334,240 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Babcock & Wilcox Enterprises by 1,398,050.0% during the 4th quarter. Russell Investments Group Ltd. now owns 671,112 shares of the technology company’s stock worth $980,000 after acquiring an additional 671,064 shares during the last quarter. CastleKnight Management LP bought a new position in Babcock & Wilcox Enterprises in the 4th quarter worth approximately $744,000. Los Angeles Capital Management LLC boosted its position in Babcock & Wilcox Enterprises by 116.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 746,421 shares of the technology company’s stock valued at $1,090,000 after buying an additional 402,350 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Babcock & Wilcox Enterprises by 11.6% during the first quarter. Vanguard Group Inc. now owns 3,379,556 shares of the technology company’s stock worth $3,819,000 after acquiring an additional 352,607 shares during the last quarter. Institutional investors and hedge funds 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.