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

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,560,000 shares, an increase of 28.0% from the March 15th total of 2,000,000 shares. Approximately 2.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Investors Weigh In On Babcock & Wilcox Enterprises

Several hedge funds have recently added to or reduced their stakes in BW. Two Sigma Advisers LP lifted its holdings in shares of Babcock & Wilcox Enterprises by 106.7% in the 4th quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company’s stock worth $44,000 after acquiring an additional 13,800 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Babcock & Wilcox Enterprises by 181.1% during the 4th quarter. Two Sigma Investments LP now owns 97,155 shares of the technology company’s stock valued at $159,000 after acquiring an additional 62,598 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in Babcock & Wilcox Enterprises in the 4th quarter worth approximately $239,000. CastleKnight Management LP lifted its position in Babcock & Wilcox Enterprises by 7.2% in the fourth quarter. CastleKnight Management LP now owns 7,213,690 shares of the technology company’s stock valued at $11,830,000 after purchasing an additional 487,516 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Babcock & Wilcox Enterprises in the fourth quarter worth $60,000. Institutional investors own 83.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BW. StockNews.com began coverage on Babcock & Wilcox Enterprises in a research note on Friday. They issued a “sell” rating on the stock. DA Davidson lowered Babcock & Wilcox Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Finally, Lake Street Capital lowered their price target on Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st.

Babcock & Wilcox Enterprises Stock Performance

Babcock & Wilcox Enterprises stock traded down $0.05 during mid-day trading on Monday, reaching $0.28. The company’s stock had a trading volume of 624,140 shares, compared to its average volume of 1,313,832. Babcock & Wilcox Enterprises has a 12-month low of $0.24 and a 12-month high of $2.99. The firm’s fifty day moving average price is $0.82 and its two-hundred day moving average price is $1.53. The company has a market capitalization of $27.70 million, a P/E ratio of -0.34 and a beta of 1.46.

Babcock & Wilcox Enterprises (NYSE:BW) last released its quarterly earnings data on Monday, March 31st. The technology company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The firm had revenue of $200.80 million for the quarter, compared to the consensus estimate of $213.07 million.

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.