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

Babcock & Wilcox Enterprises, Inc. (NYSE:BW - Get Free Report) saw a significant drop in short interest in the month of 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. Approximately 2.2% of the shares of the company are sold short. Based on an average daily volume of 971,600 shares, the days-to-cover ratio is presently 2.1 days.

Analysts Set New Price Targets

Several research firms recently issued reports on BW. StockNews.com downgraded shares of Babcock & Wilcox Enterprises from a "hold" rating to a "sell" rating in a report on Tuesday. Lake Street Capital lowered their price target on Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday.

Babcock & Wilcox Enterprises Stock Down 17.9 %

NYSE BW traded down $0.09 during midday trading on Thursday, hitting $0.40. The company had a trading volume of 3,000,166 shares, compared to its average volume of 1,265,648. The firm has a fifty day simple moving average of $1.11 and a two-hundred day simple moving average of $1.66. Babcock & Wilcox Enterprises has a fifty-two week low of $0.40 and a fifty-two week high of $2.99. The stock has a market cap of $37.73 million, a price-to-earnings ratio of -0.48 and a beta of 1.46.

Babcock & Wilcox Enterprises (NYSE:BW - Get Free Report) last released its earnings results on Monday, March 31st. The technology company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The company had revenue of $200.80 million during the quarter, compared to analyst estimates of $213.07 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in Babcock & Wilcox Enterprises during the fourth quarter valued at approximately $27,000. Boothbay Fund Management LLC bought a new stake in Babcock & Wilcox Enterprises in the fourth quarter valued at $38,000. Two Sigma Advisers LP raised its stake in Babcock & Wilcox Enterprises by 106.7% during the fourth 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Babcock & Wilcox Enterprises during the fourth quarter worth $46,000. Finally, Hilltop Holdings Inc. bought a new position in shares of Babcock & Wilcox Enterprises during the third quarter valued at $49,000. 83.17% of the stock is currently owned by institutional investors and hedge funds.

About Babcock & Wilcox Enterprises

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.