Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Sees Significant Decrease in Short Interest

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 2,000,000 shares, a decline of 28.8% from the February 28th total of 2,810,000 shares. Based on an average daily volume of 971,600 shares, the days-to-cover ratio is currently 2.1 days. Approximately 2.2% of the company’s shares are sold short.

Babcock & Wilcox Enterprises Stock Down 3.8 %

NYSE:BW traded down $0.03 during mid-day trading on Friday, hitting $0.71. 1,245,496 shares of the stock traded hands, compared to its average volume of 1,236,659. Babcock & Wilcox Enterprises has a 52 week low of $0.68 and a 52 week high of $2.99. The stock has a market capitalization of $67.15 million, a price-to-earnings ratio of -0.86 and a beta of 1.84. The firm’s 50 day moving average is $1.17 and its two-hundred day moving average is $1.67.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Babcock & Wilcox Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, March 20th.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

A number of institutional investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. grew its stake in Babcock & Wilcox Enterprises by 50.0% in the fourth quarter. Thompson Davis & CO. Inc. now owns 30,000 shares of the technology company’s stock worth $49,000 after purchasing an additional 10,000 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Babcock & Wilcox Enterprises by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 614,043 shares of the technology company’s stock worth $1,253,000 after buying an additional 12,159 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Babcock & Wilcox Enterprises by 106.7% during the fourth quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company’s stock valued at $44,000 after buying an additional 13,800 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Babcock & Wilcox Enterprises in the fourth quarter valued at about $27,000. Finally, Northern Trust Corp lifted its stake in Babcock & Wilcox Enterprises by 13.8% in the fourth quarter. Northern Trust Corp now owns 146,996 shares of the technology company’s stock worth $241,000 after acquiring an additional 17,860 shares during the period. 83.17% of the stock is owned by hedge funds and other institutional investors.

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.