StockNews.com downgraded shares of Babcock & Wilcox Enterprises (NYSE:BW - Free Report) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
Babcock & Wilcox Enterprises Price Performance
Shares of NYSE BW traded up $0.02 during midday trading on Wednesday, reaching $0.98. The company's stock had a trading volume of 479,577 shares, compared to its average volume of 1,347,663. Babcock & Wilcox Enterprises has a 12-month low of $0.75 and a 12-month high of $2.99. The firm has a 50 day moving average price of $1.32 and a 200-day moving average price of $1.70. The stock has a market capitalization of $92.52 million, a P/E ratio of -1.18 and a beta of 1.84.
Hedge Funds Weigh In On Babcock & Wilcox Enterprises
Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Babcock & Wilcox Enterprises by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 614,043 shares of the technology company's stock worth $1,253,000 after buying an additional 12,159 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings 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 during the period. Equitec Proprietary Markets LLC raised its holdings in shares of Babcock & Wilcox Enterprises by 1,449.3% in the 4th quarter. Equitec Proprietary Markets LLC now owns 255,100 shares of the technology company's stock worth $418,000 after purchasing an additional 238,635 shares during the period. Barclays PLC raised its holdings in shares of Babcock & Wilcox Enterprises by 31,891.1% in the 3rd quarter. Barclays PLC now owns 32,311 shares of the technology company's stock worth $66,000 after purchasing an additional 32,210 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Babcock & Wilcox Enterprises in the 3rd quarter worth approximately $117,000. Hedge funds and other institutional investors own 83.17% of the company's stock.
About Babcock & Wilcox Enterprises
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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.
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