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

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) was the target of a large drop in short interest in July. As of July 15th, there was short interest totalling 1,510,000 shares, a drop of 56.1% from the June 30th total of 3,440,000 shares. Based on an average trading volume of 1,410,000 shares, the short-interest ratio is currently 1.1 days.

Analysts Set New Price Targets

Several brokerages recently commented on BW. Craig Hallum increased 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 shares of Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Lake Street Capital lowered their target price on Babcock & Wilcox Enterprises from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, April 11th.

Babcock & Wilcox Enterprises Stock Up 5.4 %

BW stock traded up $0.09 during midday trading on Friday, reaching $1.66. 645,862 shares of the company’s stock traded hands, compared to its average volume of 1,455,537. Babcock & Wilcox Enterprises has a 52 week low of $0.75 and a 52 week high of $6.09. The company has a market cap of $150.62 million, a price-to-earnings ratio of -0.69 and a beta of 1.72. The firm’s fifty day moving average price is $1.50 and its 200-day moving average price is $1.29.

Babcock & Wilcox Enterprises (NYSE:BW) last released its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.12). The company had revenue of $207.60 million during the quarter, compared to analyst estimates of $226.70 million. Analysts forecast that Babcock & Wilcox Enterprises will post 0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in Babcock & Wilcox Enterprises by 128.4% in the fourth quarter. SG Americas Securities LLC now owns 70,354 shares of the technology company’s stock worth $103,000 after purchasing an additional 39,557 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Babcock & Wilcox Enterprises by 225.9% in 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 buying an additional 1,334,240 shares during the last quarter. Russell Investments Group Ltd. grew its position in Babcock & Wilcox Enterprises by 1,398,050.0% during the fourth quarter. Russell Investments Group Ltd. now owns 671,112 shares of the technology company’s stock valued at $980,000 after buying an additional 671,064 shares during the period. Los Angeles Capital Management LLC increased its holdings in Babcock & Wilcox Enterprises by 116.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 746,421 shares of the technology company’s stock worth $1,090,000 after buying an additional 402,350 shares during the last quarter. Finally, GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in Babcock & Wilcox Enterprises in the fourth quarter worth about $27,000. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

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.