Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Sees Significant Decrease in Short Interest

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 2,000,000 shares, a decline of 28.8% from the February 28th total of 2,810,000 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily volume of 971,600 shares, the days-to-cover ratio is currently 2.1 days.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in Babcock & Wilcox Enterprises during the 4th quarter valued at approximately $27,000. Boothbay Fund Management LLC bought a new position in shares of Babcock & Wilcox Enterprises during the 4th quarter valued at approximately $38,000. Hilltop Holdings Inc. purchased a new position in shares of Babcock & Wilcox Enterprises in the third quarter valued at $49,000. Two Sigma Advisers LP increased its position in Babcock & Wilcox Enterprises by 106.7% in the fourth quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company’s stock worth $44,000 after purchasing an additional 13,800 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Babcock & Wilcox Enterprises in the fourth quarter worth $46,000. Institutional investors own 83.17% of the company’s stock.

Babcock & Wilcox Enterprises Price Performance

Shares of NYSE:BW traded down $0.03 during trading on Friday, hitting $0.71. 1,245,496 shares of the company’s stock were exchanged, compared to its average volume of 1,236,659. The business’s 50-day simple moving average is $1.17 and its 200 day simple moving average is $1.67. Babcock & Wilcox Enterprises has a 52-week low of $0.68 and a 52-week high of $2.99. The company has a market cap of $67.15 million, a price-to-earnings ratio of -0.86 and a beta of 1.84.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th.

Babcock & Wilcox Enterprises Company Profile

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.