StockNews.com Initiates Coverage on Babcock & Wilcox Enterprises (NYSE:BW)

Analysts at StockNews.com initiated coverage on shares of Babcock & Wilcox Enterprises (NYSE:BW) in a research note issued to investors on Saturday. The brokerage set a “sell” rating on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. DA Davidson cut shares of Babcock & Wilcox Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Lake Street Capital decreased their price target on shares of Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st.

Babcock & Wilcox Enterprises Stock Down 6.7 %

BW opened at $0.39 on Friday. Babcock & Wilcox Enterprises has a 12 month low of $0.22 and a 12 month high of $2.99. The stock has a market cap of $38.42 million, a P/E ratio of -0.47 and a beta of 1.46. The company has a fifty day simple moving average of $0.72 and a 200 day simple moving average of $1.47.

Babcock & Wilcox Enterprises (NYSE:BW) last announced its quarterly earnings data on Monday, March 31st. The technology company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The firm had revenue of $200.80 million for the quarter, compared to analyst estimates of $213.07 million.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

Several institutional investors have recently modified their holdings of BW. Barclays PLC grew its position in shares of Babcock & Wilcox Enterprises by 31,891.1% in the third quarter. Barclays PLC now owns 32,311 shares of the technology company’s stock valued at $66,000 after purchasing an additional 32,210 shares in the last quarter. Geode Capital Management LLC increased its stake in Babcock & Wilcox Enterprises by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 614,043 shares of the technology company’s stock worth $1,253,000 after purchasing an additional 12,159 shares during the period. Equitec Proprietary Markets LLC raised its stake in shares of Babcock & Wilcox Enterprises by 1,449.3% during the fourth quarter. Equitec Proprietary Markets LLC now owns 255,100 shares of the technology company’s stock valued at $418,000 after acquiring an additional 238,635 shares during the last quarter. Thompson Davis & CO. Inc. raised its position in Babcock & Wilcox Enterprises by 50.0% during the 4th quarter. Thompson Davis & CO. Inc. now owns 30,000 shares of the technology company’s stock valued at $49,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in Babcock & Wilcox Enterprises during the 4th quarter valued at $84,000. 83.17% of the stock is owned by institutional investors.

About Babcock & Wilcox Enterprises

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.