Jacobs Levy Equity Management Inc. Reduces Stock Holdings in Babcock & Wilcox Enterprises, Inc. (NYSE:BW)

Jacobs Levy Equity Management Inc. lessened its stake in Babcock & Wilcox Enterprises, Inc. (NYSE:BW - Free Report) by 84.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,251 shares of the technology company's stock after selling 613,011 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.12% of Babcock & Wilcox Enterprises worth $187,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Brightline Capital Management LLC purchased a new stake in Babcock & Wilcox Enterprises in the 4th quarter worth $2,476,000. CastleKnight Management LP raised its position in shares of 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 valued at $11,830,000 after buying an additional 487,516 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of 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 buying an additional 431,604 shares in the last quarter. 683 Capital Management LLC acquired a new position in Babcock & Wilcox Enterprises during the fourth quarter worth about $667,000. Finally, Russell Investments Group Ltd. boosted its position in Babcock & Wilcox Enterprises by 28.1% during 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 during the last quarter. Hedge funds and other institutional investors own 83.17% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on BW. StockNews.com initiated coverage on Babcock & Wilcox Enterprises in a report on Tuesday. They issued a "hold" rating for the company. Lake Street Capital dropped their price objective on shares of Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, 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.

Babcock & Wilcox Enterprises Trading Down 9.0%

BW stock traded down $0.07 during midday trading on Wednesday, hitting $0.74. 813,643 shares of the company's stock were exchanged, compared to its average volume of 1,419,790. Babcock & Wilcox Enterprises, Inc. has a 1-year low of $0.22 and a 1-year high of $2.99. The stock has a market capitalization of $72.72 million, a PE ratio of -0.89 and a beta of 1.76. The business has a 50-day simple moving average of $0.55 and a two-hundred day simple moving average of $1.24.

Babcock & Wilcox Enterprises (NYSE:BW - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The company had revenue of $200.80 million during the quarter, compared to analysts' expectations of $213.07 million.

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.