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

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.

Separately, Lake Street Capital dropped their price objective on shares of Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday.

Babcock & Wilcox Enterprises Stock Down 32.0 %

Shares of NYSE BW traded down $0.22 during midday trading on Tuesday, hitting $0.46. The stock had a trading volume of 4,565,190 shares, compared to its average volume of 1,248,406. Babcock & Wilcox Enterprises has a 1 year low of $0.45 and a 1 year high of $2.99. The company has a market capitalization of $43.10 million, a PE ratio of -0.55 and a beta of 1.84. The stock has a 50 day simple moving average of $1.13 and a 200-day simple moving average of $1.67.

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

Institutional Investors Weigh In On Babcock & Wilcox Enterprises

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Babcock & Wilcox Enterprises by 2.0% in the third quarter. Geode Capital Management LLC now owns 614,043 shares of the technology company’s stock valued at $1,253,000 after buying an additional 12,159 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Babcock & Wilcox Enterprises by 2,372.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 727,262 shares of the technology company’s stock worth $1,484,000 after purchasing an additional 697,845 shares during the last quarter. Equitec Proprietary Markets LLC lifted its stake in shares of Babcock & Wilcox Enterprises by 1,449.3% during the 4th quarter. Equitec Proprietary Markets LLC now owns 255,100 shares of the technology company’s stock worth $418,000 after purchasing an additional 238,635 shares during the period. Barclays PLC lifted its position in Babcock & Wilcox Enterprises by 31,891.1% during the third quarter. Barclays PLC now owns 32,311 shares of the technology company’s stock worth $66,000 after buying an additional 32,210 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Babcock & Wilcox Enterprises in the third quarter worth approximately $117,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

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.