StockNews.com Lowers Babcock & Wilcox Enterprises (NYSE:BW) to Sell

StockNews.com lowered shares of Babcock & Wilcox Enterprises (NYSE:BW) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Separately, DA Davidson cut their price target on Babcock & Wilcox Enterprises from $4.00 to $3.50 and set a buy rating on the stock in a research note on Tuesday, March 19th.

Babcock & Wilcox Enterprises Trading Down 8.1 %

NYSE:BW opened at $1.13 on Wednesday. Babcock & Wilcox Enterprises has a twelve month low of $0.75 and a twelve month high of $6.64. The company has a market cap of $101.11 million, a price-to-earnings ratio of -0.48 and a beta of 1.37. The stock has a fifty day simple moving average of $1.23 and a 200-day simple moving average of $1.96.

Insider Activity

In other news, CEO Kenneth M. Young purchased 29,229 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were purchased at an average price of $1.03 per share, for a total transaction of $30,105.87. Following the completion of the purchase, the chief executive officer now owns 241,745 shares in the company, valued at approximately $248,997.35. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have bought 59,229 shares of company stock worth $62,006. Company insiders own 3.19% of the company’s stock.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake in Babcock & Wilcox Enterprises by 192.0% in the third quarter. Tower Research Capital LLC TRC now owns 5,641 shares of the technology company’s stock valued at $36,000 after purchasing an additional 3,709 shares during the last quarter. Royal Bank of Canada boosted its holdings in Babcock & Wilcox Enterprises by 65.5% in the second quarter. Royal Bank of Canada now owns 5,966 shares of the technology company’s stock worth $35,000 after acquiring an additional 2,362 shares in the last quarter. Ensign Peak Advisors Inc acquired a new stake in Babcock & Wilcox Enterprises in the third quarter worth about $43,000. Dark Forest Capital Management LP boosted its holdings in Babcock & Wilcox Enterprises by 3,147.3% in the first quarter. Dark Forest Capital Management LP now owns 7,826 shares of the technology company’s stock worth $47,000 after acquiring an additional 7,585 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Babcock & Wilcox Enterprises in the second quarter worth about $51,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

About Babcock & Wilcox Enterprises

Babcock & Wilcox Enterprises, Inc, together with its subsidiaries, provides energy and emissions control solutions to a range of industrial, electrical utility, municipal, and other customers worldwide. The company operates through three segments: Babcock & Wilcox Renewable; Babcock & Wilcox Environmental; and Babcock & Wilcox Thermal.