Babcock (NYSE:BW) Short Interest Update

Babcock (NYSE:BW) saw a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 2,400,000 shares, a decline of 27.9% from the May 15th total of 3,330,000 shares. Based on an average daily volume of 2,560,000 shares, the short-interest ratio is presently 0.9 days. Currently, 2.7% of the company’s shares are sold short.

Babcock Stock Down 6.8%

Shares of BW opened at $0.98 on Wednesday. The company has a market capitalization of $96.33 million, a price-to-earnings ratio of -1.18 and a beta of 1.61. Babcock has a 52-week low of $0.22 and a 52-week high of $2.99. The stock has a 50 day moving average price of $0.66 and a 200 day moving average price of $1.08.

Babcock (NYSE:BW) last posted its earnings results on Monday, March 31st. The technology company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The firm had revenue of $200.80 million during the quarter, compared to analyst estimates of $213.07 million.

Analyst Ratings Changes

Several brokerages have recently commented on BW. Wall Street Zen started coverage on Babcock in a research note on Tuesday, May 20th. They issued a “hold” rating on the stock. Lake Street Capital cut their price objective on Babcock from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Finally, DA Davidson cut shares of Babcock from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th.

Hedge Funds Weigh In On Babcock

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in shares of Babcock in the fourth quarter valued at about $27,000. Boothbay Fund Management LLC purchased a new position in Babcock during the fourth quarter worth about $38,000. Two Sigma Advisers LP lifted its position in Babcock by 106.7% in the fourth quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company’s stock valued at $44,000 after purchasing an additional 13,800 shares during the period. Raymond James Financial Inc. purchased a new stake in Babcock in the 4th quarter valued at approximately $46,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in Babcock by 50.0% in the 4th quarter. Thompson Davis & CO. Inc. now owns 30,000 shares of the technology company’s stock valued at $49,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

Babcock Company 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.