Babcock & Wilcox Enterprises (NYSE:BW) Price Target Lowered to $8.00 at Lake Street Capital

Babcock & Wilcox Enterprises (NYSE:BW) had its target price decreased by Lake Street Capital from $11.00 to $8.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock.

BW has been the subject of several other research reports. DA Davidson reduced their price target on shares of Babcock & Wilcox Enterprises from $4.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, March 19th. StockNews.com lowered Babcock & Wilcox Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th.

Babcock & Wilcox Enterprises Stock Up 1.9 %

Shares of NYSE BW opened at $1.05 on Thursday. Babcock & Wilcox Enterprises has a twelve month low of $0.75 and a twelve month high of $6.64. The firm has a market cap of $93.95 million, a PE ratio of -0.44 and a beta of 1.36. The business has a fifty day simple moving average of $1.19 and a two-hundred day simple moving average of $1.71.

Babcock & Wilcox Enterprises (NYSE:BW) last announced its quarterly earnings results on Thursday, March 14th. The technology company reported ($0.22) EPS for the quarter. The firm had revenue of $227.20 million during the quarter, compared to analysts’ expectations of $255.20 million. On average, research analysts expect that Babcock & Wilcox Enterprises will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Kenneth M. Young bought 29,229 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was bought at an average price of $1.03 per share, with a total value of $30,105.87. Following the completion of the transaction, the chief executive officer now directly owns 241,745 shares of the company’s stock, valued at approximately $248,997.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders bought 59,229 shares of company stock worth $62,006. 3.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

A number of large investors have recently made changes to their positions in the business. B. Riley Financial Inc. boosted its position in shares of Babcock & Wilcox Enterprises by 0.6% in the 4th quarter. B. Riley Financial Inc. now owns 27,446,522 shares of the technology company’s stock worth $40,072,000 after purchasing an additional 157,883 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Babcock & Wilcox Enterprises by 5.8% during the third quarter. Neuberger Berman Group LLC now owns 6,145,694 shares of the technology company’s stock worth $39,272,000 after acquiring an additional 339,045 shares during the last quarter. BlackRock Inc. grew its stake in shares of Babcock & Wilcox Enterprises by 5.8% during the second quarter. BlackRock Inc. now owns 4,331,351 shares of the technology company’s stock worth $25,555,000 after acquiring an additional 239,331 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Babcock & Wilcox Enterprises by 23.5% during the third quarter. Vanguard Group Inc. now owns 3,284,462 shares of the technology company’s stock valued at $20,955,000 after acquiring an additional 625,418 shares in the last quarter. Finally, B. Riley Asset Management LLC purchased a new position in shares of Babcock & Wilcox Enterprises in the 1st quarter valued at approximately $12,500,000. 83.17% of the stock is owned by institutional investors and hedge funds.

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.