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

Babcock & Wilcox Enterprises (NYSE:BW) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

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

Babcock & Wilcox Enterprises Price Performance

NYSE:BW opened at $1.17 on Tuesday. The company has a market cap of $104.24 million, a P/E ratio of -0.49 and a beta of 1.41. The firm’s fifty day moving average price is $1.13 and its two-hundred day moving average price is $1.40. 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

In other news, CEO Kenneth M. Young purchased 29,229 shares of Babcock & Wilcox Enterprises stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average price of $1.03 per share, for a total transaction of $30,105.87. Following the transaction, the chief executive officer now owns 241,745 shares of the company’s stock, valued at approximately $248,997.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders purchased 59,229 shares of company stock worth $62,006. 4.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

A number of hedge funds have recently modified their holdings of BW. Mirae Asset Global Investments Co. Ltd. acquired a new position in Babcock & Wilcox Enterprises in the first quarter valued at approximately $26,000. Tower Research Capital LLC TRC grew its stake in shares of Babcock & Wilcox Enterprises by 662.7% in the 4th 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 in the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Babcock & Wilcox Enterprises in the 4th quarter worth $27,000. Weiss Asset Management LP bought a new stake in shares of Babcock & Wilcox Enterprises in the 4th quarter worth $28,000. Finally, Aigen Investment Management LP bought a new position in Babcock & Wilcox Enterprises during the third quarter valued at about $65,000. Institutional investors and hedge funds own 83.17% of the company’s stock.

Babcock & Wilcox Enterprises Company Profile

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.