The company is trading up by 2.59% since yesterday’s close of 3.48 and is one of the top gainers in today’s market. More than 799,944 shares have changed hands.
Company shares are trading at $3.57 which is quite a bit above the 50 day moving average of $3.20 and well above the 200 day moving average of $3.20. The 50 day moving average moved up $0.37 and the 200 day average moved up $0.37.
Traders are a little more bearish on Babcock & Wilcox Enterprises, I of late as indicated by the increase in short interest. The company saw a rise in short interest between August 15, 2017 and August 31, 2017 of 47.84%. Short interest increased 1,509,698 over that period. Days to cover decreased from 1.0 to 1.0 and the percentage of shorted shares is 0.10% as of August 31.
These firms have modified their investment in BW. Ubs Group Ag expanded its position by buying 1,810 shares an increase of 148.2%. Ubs Group Ag currently owns 3,031 shares with a value of $36,000. The total value of its holdings increased 227.3%. Nuveen Asset Management, LLC added to its investment by buying 1,085,589 shares an increase of 85.6% as of 06/30/2017. Nuveen Asset Management, LLC controls 2,353,567 shares valued at $27,678,000. The value of the position overall is up by 133.7%.
As of quarter end Two Sigma Advisers, Lp had sold 167,200 shares trimming its stake by 38.5%. The value of the total investment in Babcock & Wilcox Enterprises, I decreased from $4,052,000 to $3,136,000 a change of $916,000 quarter over quarter. As of the end of the quarter Breithorn Capital Management had disposed of a total of 10,160 shares trimming its holdings by 4.1%. The value of the investment in Babcock & Wilcox Enterprises, I went from $2,294,000 to $2,769,000 a change of 20.7% quarter to quarter.
On August 14 the company was set at “Neutral” by UBS which was a cut from the previous “Buy” rating.
As of the latest earnings report the EPS was $-4.51 and is projected to be $-2.46 for the current year with 48,880,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.16 with next year’s EPS projected to be $0.38.
Babcock & Wilcox Enterprises, Inc., launched on January 13, 2015, is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial. The Company specializes in technology and engineering for power generation and various other industries, the related procurement, erection and specialty manufacturing of equipment. The Company is also engaged in the provision of related services, including high-pressure equipment for energy conversion, such as boilers fueled by coal, oil, bitumen, natural gas and renewables, including municipal solid waste and biomass fuels; environmental control systems for both power generation and industrial applications to incinerate, filter, capture, recover and/or purify air, liquid and vapor-phase effluents from a range of power generation and specialty manufacturing processes; aftermarket support for the global installed base of operating plants with a range of products and technical services, including replacement parts, retrofit and upgrade capabilities, field engineering, construction, inspection, operations and maintenance, condition assessment and other technical support; gas turbine inlet and exhaust systems, custom silencers, filters and custom enclosures, and engineered-to-order services, products and systems for energy conversion around the world and related auxiliary equipment, such as burners, pulverizers, soot blowers, and ash and material handling systems..