Babcock & Wilcox Enterprises (NYSE:BW) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Babcock & Wilcox Enterprises (NYSE:BW) from a hold rating to a sell rating in a research note released on Tuesday.

Several other analysts have also recently weighed in on the company. Lake Street Capital dropped their price target on Babcock & Wilcox Enterprises from $11.00 to $8.00 and set a buy rating for the company in a report on Thursday, April 11th. DA Davidson dropped their target price on Babcock & Wilcox Enterprises from $4.00 to $3.50 and set a buy rating for the company in a report on Tuesday, March 19th.

Babcock & Wilcox Enterprises Price Performance

NYSE:BW opened at $1.14 on Tuesday. The firm’s fifty day moving average price is $1.13 and its two-hundred day moving average price is $1.41. The company has a market cap of $102.01 million, a P/E ratio of -0.48 and a beta of 1.41. 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 released its quarterly earnings results on Thursday, March 14th. The technology company reported ($0.22) earnings per share for the quarter. The business had revenue of $227.20 million for the quarter, compared to analysts’ expectations of $255.20 million. As a group, equities research analysts expect that Babcock & Wilcox Enterprises will post 0.35 earnings per share for the current year.

Insider Activity at Babcock & Wilcox Enterprises

In related news, CEO Kenneth M. Young acquired 29,229 shares of the stock in a transaction on 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 purchase, the chief executive officer now directly owns 241,745 shares in the company, valued at $248,997.35. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders purchased 59,229 shares of company stock worth $62,006. Company insiders own 4.26% of the company’s stock.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

Several hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Babcock & Wilcox Enterprises during the 1st quarter worth $26,000. Tower Research Capital LLC TRC lifted its holdings in shares of Babcock & Wilcox Enterprises by 662.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,403 shares of the technology company’s stock worth $27,000 after acquiring an additional 15,990 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of Babcock & Wilcox Enterprises in the 4th quarter valued at approximately $27,000. Weiss Asset Management LP bought a new stake in shares of Babcock & Wilcox Enterprises during the 4th quarter valued at approximately $28,000. Finally, Aigen Investment Management LP acquired a new position in Babcock & Wilcox Enterprises during the 3rd quarter worth approximately $65,000. 83.17% of the stock is owned by institutional investors.

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.