Babcock & Wilcox Enterprises (NYSE:BW) Stock Price Crosses Above 200-Day Moving Average of $0.00

Babcock & Wilcox Enterprises, Inc. (NYSE:BW)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $8.87. Babcock & Wilcox Enterprises shares last traded at $8.26, with a volume of 644,822 shares trading hands.

Several research analysts recently weighed in on the company. DA Davidson assumed coverage on Babcock & Wilcox Enterprises in a research report on Thursday, March 25th. They set a “buy” rating and a $10.00 price target on the stock. Lake Street Capital began coverage on Babcock & Wilcox Enterprises in a research report on Thursday, March 25th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, B. Riley began coverage on Babcock & Wilcox Enterprises in a research report on Thursday, February 18th. They issued a “buy” rating and a $12.00 target price on the stock.

The stock has a 50-day moving average price of $8.36. The stock has a market capitalization of $708.11 million, a P/E ratio of 48.59 and a beta of 2.81.

Babcock & Wilcox Enterprises (NYSE:BW) last issued its earnings results on Thursday, May 13th. The technology company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.11. Babcock & Wilcox Enterprises had a negative return on equity of 1.91% and a net margin of 0.97%. On average, research analysts forecast that Babcock & Wilcox Enterprises, Inc. will post 0.12 EPS for the current year.

In related news, Director B. Riley Financial, Inc. purchased 10,720,785 shares of the firm’s stock in a transaction dated Thursday, March 25th. The stock was bought at an average price of $6.04 per share, for a total transaction of $64,753,541.40. Following the purchase, the director now owns 21,640,014 shares in the company, valued at approximately $130,705,684.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 35.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BW. B. Riley Financial Inc. boosted its stake in shares of Babcock & Wilcox Enterprises by 64.7% during the 1st quarter. B. Riley Financial Inc. now owns 27,291,437 shares of the technology company’s stock worth $258,450,000 after acquiring an additional 10,720,785 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Babcock & Wilcox Enterprises by 326.1% during the 1st quarter. Neuberger Berman Group LLC now owns 6,000,470 shares of the technology company’s stock valued at $56,478,000 after purchasing an additional 4,592,126 shares during the period. Cannell Capital LLC bought a new stake in Babcock & Wilcox Enterprises during the 1st quarter valued at approximately $11,302,000. BlackRock Inc. boosted its stake in Babcock & Wilcox Enterprises by 144.5% during the 1st quarter. BlackRock Inc. now owns 1,516,734 shares of the technology company’s stock valued at $14,364,000 after purchasing an additional 896,477 shares during the period. Finally, Royce & Associates LP bought a new stake in Babcock & Wilcox Enterprises during the 1st quarter valued at approximately $7,616,000. Institutional investors own 75.29% of the company’s stock.

About Babcock & Wilcox Enterprises (NYSE:BW)

Babcock & Wilcox Enterprises, Inc, together with its subsidiaries, provides energy and environmental technologies and services for the power and industrial markets worldwide. The company operates through three segments: Babcock & Wilcox Renewable; Babcock & Wilcox Environmental; and Babcock & Wilcox Thermal.

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