Babcock & Wilcox Enterprises (NYSE:BW) Shares Gap Down to $6.13

Babcock & Wilcox Enterprises, Inc. (NYSE:BW)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $6.13, but opened at $5.92. Babcock & Wilcox Enterprises shares last traded at $6.00, with a volume of 1,849 shares traded.

Several research analysts have recently commented on the company. Credit Suisse Group lifted their target price on Babcock & Wilcox Enterprises to $6.00 and gave the stock an “underperform” rating in a research report on Thursday, September 9th. Zacks Investment Research upgraded Babcock & Wilcox Enterprises from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Wednesday, August 18th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $9.60.

The company has a market capitalization of $514.93 million, a P/E ratio of 10.31 and a beta of 2.77. The firm’s 50-day moving average is $7.13 and its 200-day moving average is $7.71.

Babcock & Wilcox Enterprises (NYSE:BW) last announced its quarterly earnings data on Wednesday, August 11th. The technology company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.09. Babcock & Wilcox Enterprises had a net margin of 4.12% and a negative return on equity of 12.36%. The firm had revenue of $202.90 million during the quarter, compared to analyst estimates of $170.50 million. Sell-side analysts expect that Babcock & Wilcox Enterprises, Inc. will post 0.16 earnings per share for the current fiscal year.

In other news, SVP John J. Dziewisz sold 9,200 shares of the business’s stock in a transaction on Wednesday, August 25th. The stock was sold at an average price of $7.92, for a total value of $72,864.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP John J. Dziewisz sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $7.18, for a total value of $179,500.00. The disclosure for this sale can be found here. 35.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. B. Riley Financial Inc. lifted 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 valued at $258,450,000 after buying an additional 10,720,785 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Babcock & Wilcox Enterprises by 326.1% in the first quarter. Neuberger Berman Group LLC now owns 6,000,470 shares of the technology company’s stock worth $56,478,000 after buying an additional 4,592,126 shares during the last quarter. BlackRock Inc. grew its stake in shares of Babcock & Wilcox Enterprises by 177.9% in the second quarter. BlackRock Inc. now owns 4,214,760 shares of the technology company’s stock worth $33,212,000 after acquiring an additional 2,698,026 shares during the period. Cannell Capital LLC bought a new position in shares of Babcock & Wilcox Enterprises in the first quarter worth approximately $11,302,000. Finally, State Street Corp raised its stake in Babcock & Wilcox Enterprises by 2,675.4% during the second quarter. State Street Corp now owns 908,741 shares of the technology company’s stock valued at $7,161,000 after purchasing an additional 875,998 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

About Babcock & Wilcox Enterprises (NYSE:BW)

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 circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

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