Short Interest in Babcock (NYSE:BW) Decreases By 27.9%

Babcock (NYSE:BW - Get Free Report) saw a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 2,400,000 shares, a decrease of 27.9% from the May 15th total of 3,330,000 shares. Currently, 2.7% of the company's shares are short sold. Based on an average trading volume of 2,560,000 shares, the short-interest ratio is presently 0.9 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp raised its stake in shares of Babcock by 13.8% in the fourth quarter. Northern Trust Corp now owns 146,996 shares of the technology company's stock valued at $241,000 after acquiring an additional 17,860 shares in the last quarter. Barclays PLC raised its stake in shares of Babcock by 195.7% in the fourth quarter. Barclays PLC now owns 95,539 shares of the technology company's stock valued at $156,000 after acquiring an additional 63,228 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Babcock in the fourth quarter valued at $60,000. Raymond James Financial Inc. acquired a new stake in shares of Babcock in the fourth quarter valued at $46,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Babcock by 561.4% in the fourth quarter. JPMorgan Chase & Co. now owns 404,821 shares of the technology company's stock valued at $664,000 after acquiring an additional 343,613 shares in the last quarter. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

Babcock Stock Performance

Shares of BW traded up $0.03 during midday trading on Friday, hitting $0.98. 796,815 shares of the stock were exchanged, compared to its average volume of 1,648,187. Babcock has a 52-week low of $0.22 and a 52-week high of $2.99. The stock has a fifty day simple moving average of $0.70 and a 200 day simple moving average of $1.06. The firm has a market cap of $96.14 million, a P/E ratio of -1.18 and a beta of 1.61.

Babcock (NYSE:BW - Get Free Report) last released its quarterly earnings results on Monday, March 31st. The technology company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The firm had revenue of $200.80 million during the quarter, compared to analyst estimates of $213.07 million.

Wall Street Analyst Weigh In

BW has been the subject of several analyst reports. Lake Street Capital lowered their price objective on Babcock from $8.00 to $5.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. DA Davidson lowered Babcock from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Finally, Wall Street Zen began coverage on Babcock in a research report on Tuesday, May 20th. They set a "hold" rating for the company.

Babcock 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.