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

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,580,000 shares, a growth of 186.8% from the August 15th total of 899,700 shares. Based on an average daily volume of 1,540,000 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Babcock & Wilcox Enterprises by 11.6% in the first quarter. Vanguard Group Inc. now owns 3,379,556 shares of the technology company’s stock valued at $3,819,000 after purchasing an additional 352,607 shares during the period. Russell Investments Group Ltd. boosted its holdings in Babcock & Wilcox Enterprises by 29.3% in the first quarter. Russell Investments Group Ltd. now owns 867,520 shares of the technology company’s stock valued at $980,000 after purchasing an additional 196,408 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Babcock & Wilcox Enterprises in the first quarter valued at $26,000. Boston Partners boosted its holdings in Babcock & Wilcox Enterprises by 16.0% in the first quarter. Boston Partners now owns 318,870 shares of the technology company’s stock valued at $360,000 after purchasing an additional 43,880 shares during the period. Finally, Tidal Investments LLC purchased a new position in Babcock & Wilcox Enterprises in the first quarter valued at $122,000. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BW has been the subject of a number of research analyst reports. Craig Hallum increased their target price on Babcock & Wilcox Enterprises from $1.50 to $2.00 and gave the company a “hold” rating in a report on Monday, July 8th. StockNews.com raised Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, August 15th.

Babcock & Wilcox Enterprises Price Performance

Babcock & Wilcox Enterprises stock remained flat at $1.26 during mid-day trading on Friday. The company had a trading volume of 687,123 shares, compared to its average volume of 1,399,133. The firm has a market cap of $116.17 million, a price-to-earnings ratio of -0.53 and a beta of 1.72. Babcock & Wilcox Enterprises has a 52 week low of $0.75 and a 52 week high of $5.06. The business has a 50-day moving average price of $1.38 and a two-hundred day moving average price of $1.28.

Babcock & Wilcox Enterprises (NYSE:BW) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.19). The company had revenue of $233.60 million during the quarter, compared to the consensus estimate of $262.20 million. As a group, analysts predict that Babcock & Wilcox Enterprises will post -0.03 earnings per share for the current fiscal year.

Babcock & Wilcox Enterprises Company Profile

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.