Babcock & Wilcox Enterprises (NYSE:BW) Stock Price Passes Above 200-Day Moving Average - What's Next?

Babcock & Wilcox Enterprises, Inc. (NYSE:BW - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.48 and traded as high as $2.59. Babcock & Wilcox Enterprises shares last traded at $2.53, with a volume of 1,259,123 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BW shares. StockNews.com raised shares of Babcock & Wilcox Enterprises from a "sell" rating to a "hold" rating in a research note on Thursday, August 15th. Craig Hallum upped their target price on shares of Babcock & Wilcox Enterprises from $1.50 to $2.00 and gave the stock a "hold" rating in a report on Monday, July 8th.

Babcock & Wilcox Enterprises Stock Performance

The company has a market capitalization of $219.79 million, a PE ratio of -1.00 and a beta of 1.74. The stock has a fifty day moving average of $1.79 and a 200 day moving average of $1.49.

Babcock & Wilcox Enterprises (NYSE:BW - Get Free Report) last released its earnings results on Thursday, August 8th. The technology company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.19). The firm had revenue of $233.60 million for the quarter, compared to analysts' expectations of $262.20 million. As a group, equities analysts predict that Babcock & Wilcox Enterprises, Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BW. Assenagon Asset Management S.A. lifted its position in Babcock & Wilcox Enterprises by 91.2% during the third quarter. Assenagon Asset Management S.A. now owns 2,251,498 shares of the technology company's stock valued at $4,593,000 after purchasing an additional 1,073,775 shares during the last quarter. Delta Financial Group Inc. lifted its holdings in shares of Babcock & Wilcox Enterprises by 90.9% in the 3rd quarter. Delta Financial Group Inc. now owns 21,000 shares of the technology company's stock valued at $43,000 after acquiring an additional 10,000 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Babcock & Wilcox Enterprises in the second quarter worth about $42,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Babcock & Wilcox Enterprises during the second quarter worth approximately $130,000. Finally, Millennium Management LLC raised its position in Babcock & Wilcox Enterprises by 3.8% during the second quarter. Millennium Management LLC now owns 1,852,307 shares of the technology company's stock valued at $2,686,000 after purchasing an additional 67,617 shares during the period. 83.17% of the stock is owned by institutional investors.

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.