Babcock & Wilcox Enterprises (NYSE:BW) Cut to Sell at StockNews.com

StockNews.com lowered shares of Babcock & Wilcox Enterprises (NYSE:BW) from a hold rating to a sell rating in a research report report published on Tuesday.

Separately, Lake Street Capital lowered their target price on shares of Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday.

Babcock & Wilcox Enterprises Stock Performance

BW stock opened at $0.40 on Tuesday. The business has a 50-day simple moving average of $1.09 and a two-hundred day simple moving average of $1.65. The company has a market capitalization of $37.73 million, a P/E ratio of -0.48 and a beta of 1.46. Babcock & Wilcox Enterprises has a 52-week low of $0.40 and a 52-week high of $2.99.

Babcock & Wilcox Enterprises (NYSE:BW) last announced its earnings results on Monday, March 31st. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The company had revenue of $200.80 million during the quarter, compared to the consensus estimate of $213.07 million.

Institutional Trading of Babcock & Wilcox Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brightline Capital Management LLC bought a new stake in Babcock & Wilcox Enterprises in the fourth quarter worth about $2,476,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Babcock & Wilcox Enterprises by 2,372.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 727,262 shares of the technology company’s stock worth $1,484,000 after purchasing an additional 697,845 shares during the period. CastleKnight Management LP raised its holdings in shares of Babcock & Wilcox Enterprises by 7.2% in the 4th quarter. CastleKnight Management LP now owns 7,213,690 shares of the technology company’s stock worth $11,830,000 after purchasing an additional 487,516 shares during the period. Marshall Wace LLP lifted its stake in Babcock & Wilcox Enterprises by 809.8% in the fourth quarter. Marshall Wace LLP now owns 484,903 shares of the technology company’s stock valued at $795,000 after purchasing an additional 431,604 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in Babcock & Wilcox Enterprises during the fourth quarter valued at $667,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

Babcock & Wilcox Enterprises Company Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.