Babcock & Wilcox Enterprises (NYSE:BW) Given New $5.00 Price Target at Lake Street Capital

Babcock & Wilcox Enterprises (NYSE:BW) had its price target cut by equities researchers at Lake Street Capital from $8.00 to $5.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock.

Separately, StockNews.com upgraded Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, March 20th.

Babcock & Wilcox Enterprises Trading Down 16.9 %

Shares of Babcock & Wilcox Enterprises stock traded down $0.11 during trading on Tuesday, hitting $0.56. 1,439,855 shares of the stock traded hands, compared to its average volume of 1,237,104. The stock’s fifty day simple moving average is $1.15 and its 200 day simple moving average is $1.67. The firm has a market cap of $52.72 million, a P/E ratio of -0.68 and a beta of 1.84. Babcock & Wilcox Enterprises has a 52-week low of $0.54 and a 52-week high of $2.99.

Institutional Investors Weigh In On Babcock & Wilcox Enterprises

Large investors have recently made changes to their positions in the stock. Brightline Capital Management LLC purchased a new stake in Babcock & Wilcox Enterprises during the 4th quarter valued at about $2,476,000. Jacobs Levy Equity Management Inc. boosted its position in Babcock & Wilcox Enterprises by 2,372.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 727,262 shares of the technology company’s stock valued at $1,484,000 after buying an additional 697,845 shares during the last quarter. CastleKnight Management LP increased its holdings in 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 period. Marshall Wace LLP raised its position in Babcock & Wilcox Enterprises by 809.8% during the 4th quarter. Marshall Wace LLP now owns 484,903 shares of the technology company’s stock worth $795,000 after buying an additional 431,604 shares during the last quarter. Finally, 683 Capital Management LLC acquired a new stake in Babcock & Wilcox Enterprises during the 4th quarter valued at approximately $667,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

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.