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

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,510,000 shares, a decline of 56.1% from the June 30th total of 3,440,000 shares. Based on an average daily trading volume, of 1,410,000 shares, the days-to-cover ratio is presently 1.1 days.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

A number of large investors have recently added to or reduced their stakes in the company. Boston Partners grew 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 worth $360,000 after purchasing an additional 43,880 shares during the last quarter. Tidal Investments LLC acquired a new position in Babcock & Wilcox Enterprises during the 1st quarter valued at about $122,000. Acadian Asset Management LLC raised its stake in Babcock & Wilcox Enterprises by 13.0% in the first quarter. Acadian Asset Management LLC now owns 744,428 shares of the technology company’s stock valued at $840,000 after buying an additional 85,489 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Babcock & Wilcox Enterprises by 11.6% in the 1st 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 last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Babcock & Wilcox Enterprises by 29.3% in the 1st 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 last quarter. 83.17% of the stock is currently owned by institutional investors.

Babcock & Wilcox Enterprises Trading Up 3.8 %

BW stock traded up $0.06 during trading on Friday, hitting $1.63. The company had a trading volume of 979,842 shares, compared to its average volume of 2,164,365. The company has a 50 day simple moving average of $1.51 and a 200-day simple moving average of $1.29. Babcock & Wilcox Enterprises has a 52-week low of $0.75 and a 52-week high of $6.09.

Babcock & Wilcox Enterprises (NYSE:BW) last released its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.12). The company had revenue of $207.60 million during the quarter, compared to analysts’ expectations of $226.70 million. On average, research analysts anticipate that Babcock & Wilcox Enterprises will post 0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a report on Thursday. Lake Street Capital decreased their price objective on shares of Babcock & Wilcox Enterprises from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Finally, Craig Hallum upped their target price on Babcock & Wilcox Enterprises from $1.50 to $2.00 and gave the company a “hold” rating in a research note on Monday, July 8th.

About Babcock & Wilcox Enterprises

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.