Babcock & Wilcox Enterprises (NYSE:BW) Shares Gap Down to $8.84

Babcock & Wilcox Enterprises, Inc. (NYSE:BW)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $8.84, but opened at $8.43. Babcock & Wilcox Enterprises shares last traded at $8.40, with a volume of 5,578 shares changing hands.

Several analysts have weighed in on BW shares. DA Davidson initiated coverage on Babcock & Wilcox Enterprises in a research note on Wednesday, March 31st. They set a “buy” rating and a $10.00 target price on the stock. Lake Street Capital initiated coverage on Babcock & Wilcox Enterprises in a research note on Wednesday, March 31st. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, B. Riley initiated coverage on Babcock & Wilcox Enterprises in a research note on Thursday, February 18th. They issued a “buy” rating and a $12.00 price objective on the stock.

The stock has a 50 day moving average price of $8.15 and a 200 day moving average price of $5.47. The company has a market cap of $736.71 million, a P/E ratio of -73.66 and a beta of 2.77.

Babcock & Wilcox Enterprises (NYSE:BW) last posted its quarterly earnings data on Wednesday, April 21st. The technology company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.11.

In other news, CEO Kenneth M. Young bought 17,094 shares of the firm’s stock in a transaction on Wednesday, February 10th. The stock was bought at an average cost of $5.85 per share, for a total transaction of $99,999.90. Following the completion of the acquisition, the chief executive officer now directly owns 646,334 shares in the company, valued at approximately $3,781,053.90. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director B. Riley Financial, Inc. bought 10,720,785 shares of the firm’s stock in a transaction on Thursday, March 25th. The stock was purchased at an average price of $6.04 per share, with a total value of $64,753,541.40. Following the completion of the acquisition, the director now owns 21,640,014 shares of the company’s stock, valued at $130,705,684.56. The disclosure for this purchase can be found here. Insiders purchased a total of 10,739,879 shares of company stock worth $64,865,241 in the last three months. 53.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in BW. Charles Schwab Investment Management Inc. boosted its holdings in shares of Babcock & Wilcox Enterprises by 17.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 161,814 shares of the technology company’s stock worth $376,000 after buying an additional 24,415 shares during the period. BlackRock Inc. lifted its position in shares of Babcock & Wilcox Enterprises by 0.5% in the fourth quarter. BlackRock Inc. now owns 620,257 shares of the technology company’s stock worth $2,177,000 after purchasing an additional 3,206 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Babcock & Wilcox Enterprises by 184.4% in the fourth quarter. Wells Fargo & Company MN now owns 7,749 shares of the technology company’s stock worth $27,000 after purchasing an additional 5,024 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Babcock & Wilcox Enterprises by 133.0% in the fourth quarter. Renaissance Technologies LLC now owns 420,280 shares of the technology company’s stock worth $1,475,000 after purchasing an additional 239,892 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Babcock & Wilcox Enterprises by 4.6% in the fourth quarter. Northern Trust Corp now owns 105,335 shares of the technology company’s stock worth $370,000 after purchasing an additional 4,664 shares in the last quarter. Institutional investors own 43.28% 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.

Further Reading: retirement calculator

Receive News & Ratings for Babcock & Wilcox Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Babcock & Wilcox Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.