Babcock & Wilcox Enterprises (NYSE:BW) Upgraded at StockNews.com

Babcock & Wilcox Enterprises (NYSE:BW) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other brokerages have also recently issued reports on BW. Lake Street Capital lowered their target price on shares of Babcock & Wilcox Enterprises from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday. DA Davidson lowered their target price on shares of 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 Stock Performance

Shares of NYSE BW opened at $1.05 on Friday. The firm has a market cap of $93.95 million, a PE ratio of -0.44 and a beta of 1.36. The firm has a fifty day moving average of $1.19 and a 200 day moving average of $1.69. Babcock & Wilcox Enterprises has a one year low of $0.75 and a one year high of $6.64.

Babcock & Wilcox Enterprises (NYSE:BW) last issued its quarterly earnings results on Thursday, March 14th. The technology company reported ($0.22) EPS for the quarter. The company had revenue of $227.20 million for the quarter, compared to the consensus estimate of $255.20 million. On average, equities analysts predict that Babcock & Wilcox Enterprises will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kenneth M. Young purchased 29,229 shares of the stock in a transaction dated Wednesday, March 20th. The shares were purchased at an average price of $1.03 per share, with a total value of $30,105.87. Following the transaction, the chief executive officer now owns 241,745 shares in the company, valued at approximately $248,997.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 59,229 shares of company stock valued at $62,006 in the last 90 days. 3.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in shares of Babcock & Wilcox Enterprises by 225.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,924,748 shares of the technology company’s stock valued at $2,810,000 after acquiring an additional 1,334,240 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Babcock & Wilcox Enterprises by 543.8% during the 3rd quarter. GSA Capital Partners LLP now owns 180,951 shares of the technology company’s stock valued at $762,000 after acquiring an additional 152,843 shares during the last quarter. Aigen Investment Management LP acquired a new position in Babcock & Wilcox Enterprises in the third quarter valued at about $65,000. Gendell Jeffrey L lifted its position in Babcock & Wilcox Enterprises by 728.5% in the third quarter. Gendell Jeffrey L now owns 579,937 shares of the technology company’s stock valued at $2,442,000 after buying an additional 509,937 shares during the last quarter. Finally, Walleye Capital LLC lifted its position in Babcock & Wilcox Enterprises by 828.9% in the third quarter. Walleye Capital LLC now owns 312,360 shares of the technology company’s stock valued at $1,315,000 after buying an additional 278,734 shares during the last quarter. Institutional investors and hedge funds 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 industrial, electrical utility, municipal, and other customers worldwide. The company operates through three segments: Babcock & Wilcox Renewable; Babcock & Wilcox Environmental; and Babcock & Wilcox Thermal.