Babcock (NYSE:BW) Sees Large Increase in Short Interest

Babcock (NYSE:BW) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 6,350,606 shares, a growth of 84.9% from the February 26th total of 3,433,824 shares. Based on an average daily volume of 7,731,678 shares, the short-interest ratio is currently 0.8 days. Currently, 4.9% of the shares of the stock are short sold.

Babcock Price Performance

Shares of BW stock traded up $0.40 during mid-day trading on Friday, hitting $14.86. The stock had a trading volume of 2,815,613 shares, compared to its average volume of 6,634,802. The firm has a market capitalization of $2.01 billion, a P/E ratio of -27.51 and a beta of 1.54. Babcock has a 12-month low of $0.22 and a 12-month high of $16.24. The firm’s 50-day moving average is $10.99 and its two-hundred day moving average is $7.03.

Babcock (NYSE:BW) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $161.00 million during the quarter, compared to analysts’ expectations of $179.10 million.

Insiders Place Their Bets

In other Babcock news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total transaction of $10,398,438.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth M. Young acquired 7,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was acquired at an average cost of $15.14 per share, with a total value of $105,980.00. Following the completion of the purchase, the chief executive officer directly owned 1,656,512 shares in the company, valued at approximately $25,079,591.68. This represents a 0.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Babcock

Several institutional investors have recently bought and sold shares of the business. Marshall Wace LLP lifted its holdings in Babcock by 93.0% during the second quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock worth $380,000 after buying an additional 190,814 shares during the period. Gendell Jeffrey L increased its holdings in shares of Babcock by 49.2% in the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock valued at $2,477,000 after acquiring an additional 849,602 shares during the period. Nomura Holdings Inc. increased its holdings in shares of Babcock by 58.2% in the 2nd quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock valued at $123,000 after acquiring an additional 46,884 shares during the period. Shikiar Asset Management Inc. bought a new position in shares of Babcock in the 3rd quarter worth $138,000. Finally, Global Retirement Partners LLC bought a new position in shares of Babcock in the 3rd quarter worth $71,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BW shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, January 21st. Zacks Research upgraded Babcock to a “hold” rating in a report on Friday, January 23rd. Wall Street Zen raised shares of Babcock from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Craig Hallum reiterated a “buy” rating and set a $19.00 price objective on shares of Babcock in a research report on Tuesday, March 17th. Finally, Northland Securities began coverage on shares of Babcock in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.00.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.