Babcock & Wilcox Enterprises (NYSE:BW) Coverage Initiated at Wall Street Zen

Analysts at Wall Street Zen began coverage on shares of Babcock & Wilcox Enterprises (NYSE:BW - Get Free Report) in a report issued on Tuesday. The brokerage set a "hold" rating on the technology company's stock.

A number of other equities analysts also recently issued reports on the stock. Lake Street Capital decreased their price target on shares of Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. DA Davidson downgraded shares of Babcock & Wilcox Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th.

Babcock & Wilcox Enterprises Price Performance

BW stock traded down $0.04 during midday trading on Tuesday, reaching $0.65. The company had a trading volume of 893,129 shares, compared to its average volume of 1,422,491. The company has a market capitalization of $63.86 million, a P/E ratio of -0.78 and a beta of 1.76. Babcock & Wilcox Enterprises has a 1 year low of $0.22 and a 1 year high of $2.99. The firm has a 50-day moving average price of $0.54 and a 200-day moving average price of $1.20.

Babcock & Wilcox Enterprises (NYSE:BW - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The technology company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The firm 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

A number of institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in shares of Babcock & Wilcox Enterprises by 13.6% during the first quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company's stock valued at $1,333,000 after buying an additional 237,797 shares during the last quarter. Brightline Capital Management LLC boosted its holdings in Babcock & Wilcox Enterprises by 2.6% in the first quarter. Brightline Capital Management LLC now owns 1,550,000 shares of the technology company's stock worth $1,042,000 after purchasing an additional 40,000 shares during the last quarter. Equitec Proprietary Markets LLC boosted its holdings in Babcock & Wilcox Enterprises by 28.3% in the first quarter. Equitec Proprietary Markets LLC now owns 327,365 shares of the technology company's stock worth $220,000 after purchasing an additional 72,265 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Babcock & Wilcox Enterprises by 1.3% in the first quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company's stock worth $1,160,000 after purchasing an additional 22,452 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its holdings in Babcock & Wilcox Enterprises by 2.7% in the first quarter. Heartland Advisors Inc. now owns 1,411,000 shares of the technology company's stock worth $949,000 after purchasing an additional 37,500 shares during the last quarter. 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.