Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Holdings Decreased by Millennium Management LLC

Millennium Management LLC reduced its stake in shares of Babcock & Wilcox Enterprises, Inc. (NYSE:BW - Free Report) by 39.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 574,155 shares of the technology company's stock after selling 366,682 shares during the quarter. Millennium Management LLC owned about 0.61% of Babcock & Wilcox Enterprises worth $942,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BW. Brightline Capital Management LLC bought a new stake in Babcock & Wilcox Enterprises in the fourth quarter worth about $2,476,000. CastleKnight Management LP raised its position in Babcock & Wilcox Enterprises by 7.2% in the fourth quarter. CastleKnight Management LP now owns 7,213,690 shares of the technology company's stock worth $11,830,000 after acquiring an additional 487,516 shares in the last quarter. Marshall Wace LLP raised its position in Babcock & Wilcox Enterprises by 809.8% in the fourth quarter. Marshall Wace LLP now owns 484,903 shares of the technology company's stock worth $795,000 after acquiring an additional 431,604 shares in the last quarter. 683 Capital Management LLC bought a new stake in Babcock & Wilcox Enterprises in the fourth quarter worth about $667,000. Finally, Russell Investments Group Ltd. raised its position in Babcock & Wilcox Enterprises by 28.1% in the fourth quarter. Russell Investments Group Ltd. now owns 1,702,261 shares of the technology company's stock worth $2,792,000 after acquiring an additional 373,049 shares in the last quarter. 83.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on BW shares. DA Davidson cut shares of Babcock & Wilcox Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Wall Street Zen initiated coverage on Babcock & Wilcox Enterprises in a research note on Tuesday, May 20th. They issued a "hold" rating on the stock. Finally, Lake Street Capital dropped their price target on Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st.

Babcock & Wilcox Enterprises Price Performance

NYSE:BW opened at $1.36 on Friday. The stock has a market cap of $133.34 million, a PE ratio of -1.63 and a beta of 1.76. The stock's 50-day moving average is $0.54 and its two-hundred day moving average is $1.13. Babcock & Wilcox Enterprises, Inc. has a fifty-two week low of $0.22 and a fifty-two week high of $2.99.

Babcock & Wilcox Enterprises (NYSE:BW - Get Free Report) last announced 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 company had revenue of $200.80 million during the quarter, compared to analyst estimates of $213.07 million.

Babcock & Wilcox Enterprises 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.

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