Stock Traders Buy High Volume of Call Options on Babcock & Wilcox Enterprises (BW)

Babcock & Wilcox Enterprises Inc (NYSE:BW) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 2,086 call options on the company. This is an increase of 1,868% compared to the average daily volume of 106 call options.

In other Babcock & Wilcox Enterprises news, major shareholder Steel Partners Holdings L.P. bought 41,456 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $5.90 per share, with a total value of $244,590.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of BW. Stone Ridge Asset Management LLC purchased a new stake in shares of Babcock & Wilcox Enterprises during the fourth quarter valued at $106,000. Public Employees Retirement System of Ohio boosted its stake in shares of Babcock & Wilcox Enterprises by 30.9% during the second quarter. Public Employees Retirement System of Ohio now owns 9,330 shares of the technology company’s stock valued at $110,000 after purchasing an additional 2,200 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of Babcock & Wilcox Enterprises during the fourth quarter valued at $143,000. OppenheimerFunds Inc. purchased a new stake in shares of Babcock & Wilcox Enterprises during the fourth quarter valued at $165,000. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of Babcock & Wilcox Enterprises during the second quarter valued at $186,000. 65.17% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research lowered shares of Babcock & Wilcox Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $7.18.

Babcock & Wilcox Enterprises (NYSE:BW) traded up $0.48 during midday trading on Wednesday, reaching $6.88. 1,370,043 shares of the company’s stock traded hands, compared to its average volume of 1,327,301. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 0.67. Babcock & Wilcox Enterprises has a 52 week low of $1.61 and a 52 week high of $17.31.

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About Babcock & Wilcox Enterprises

Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial.

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