Insider Buying: Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Major Shareholder Acquires 157,883 Shares of Stock

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) major shareholder B. Riley Financial, Inc. bought 157,883 shares of the stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $1.16 per share, with a total value of $183,144.28. Following the completion of the transaction, the insider now directly owns 7,602,348 shares in the company, valued at approximately $8,818,723.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Babcock & Wilcox Enterprises Price Performance

Shares of BW opened at $1.68 on Thursday. The firm has a market capitalization of $150.47 million, a price-to-earnings ratio of -1.03 and a beta of 2.09. Babcock & Wilcox Enterprises, Inc. has a 1-year low of $0.96 and a 1-year high of $6.83. The company has a 50-day moving average of $3.31 and a 200 day moving average of $4.81.

Babcock & Wilcox Enterprises (NYSE:BW) last issued its earnings results on Thursday, November 9th. The technology company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.27). The company had revenue of $239.40 million for the quarter, compared to analysts’ expectations of $300.00 million. Babcock & Wilcox Enterprises had a negative return on equity of 3,839.48% and a negative net margin of 12.25%. On average, equities analysts anticipate that Babcock & Wilcox Enterprises, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BW shares. Craig Hallum lowered shares of Babcock & Wilcox Enterprises from a “buy” rating to a “hold” rating and lowered their price objective for the company from $10.00 to $2.00 in a research report on Friday, November 10th. StockNews.com downgraded shares of Babcock & Wilcox Enterprises from a “hold” rating to a “sell” rating in a report on Monday.

Institutional Investors Weigh In On Babcock & Wilcox Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of BW. Tower Research Capital LLC TRC increased its holdings in Babcock & Wilcox Enterprises by 192.0% during the third quarter. Tower Research Capital LLC TRC now owns 5,641 shares of the technology company’s stock valued at $36,000 after buying an additional 3,709 shares during the period. Royal Bank of Canada raised its position in shares of Babcock & Wilcox Enterprises by 65.5% in the 2nd 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 purchased a new position in Babcock & Wilcox Enterprises in the third quarter valued at about $43,000. Dark Forest Capital Management LP grew its position in shares of Babcock & Wilcox Enterprises by 3,147.3% in the 1st quarter. Dark Forest Capital Management LP now owns 7,826 shares of the technology company’s stock worth $47,000 after buying an additional 7,585 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Babcock & Wilcox Enterprises in the second quarter valued at approximately $51,000. 85.81% of the stock is owned by institutional investors.

Babcock & Wilcox Enterprises Company Profile

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.