Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Short Interest Down 28.8% in March

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 2,000,000 shares, a drop of 28.8% from the February 28th total of 2,810,000 shares. Based on an average daily trading volume, of 971,600 shares, the days-to-cover ratio is currently 2.1 days. Approximately 2.2% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities analysts have commented on BW shares. StockNews.com upgraded shares of Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th. Lake Street Capital reduced their price objective on Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday.

Babcock & Wilcox Enterprises Price Performance

NYSE BW traded down $0.22 during trading on Tuesday, reaching $0.46. 4,565,190 shares of the company’s stock traded hands, compared to its average volume of 1,248,406. Babcock & Wilcox Enterprises has a 12-month low of $0.45 and a 12-month high of $2.99. The firm has a market cap of $43.10 million, a price-to-earnings ratio of -0.55 and a beta of 1.84. The company’s 50 day simple moving average is $1.13 and its two-hundred day simple moving average is $1.67.

Babcock & Wilcox Enterprises (NYSE:BW) last issued 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 company had revenue of $200.80 million for the quarter, compared to the consensus estimate of $213.07 million.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CastleKnight Management LP grew its position 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 buying an additional 487,516 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Babcock & Wilcox Enterprises by 28.1% in the fourth quarter. Russell Investments Group Ltd. now owns 1,702,261 shares of the technology company’s stock worth $2,792,000 after purchasing an additional 373,049 shares during the last quarter. Brightline Capital Management LLC acquired a new position in shares of Babcock & Wilcox Enterprises during the fourth quarter worth $2,476,000. Heartland Advisors Inc. lifted its holdings in shares of Babcock & Wilcox Enterprises by 4.5% during the 4th quarter. Heartland Advisors Inc. now owns 1,373,500 shares of the technology company’s stock valued at $2,253,000 after purchasing an additional 58,800 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

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.