The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Babcock & Wilcox Enterprises Inc. shares valued at $22,137 were sold by Dziewisz John J on Aug 30. At $8.10 per share, Dziewisz John J sold 2,733 shares. The insider’s holdings dropped to 159,091 shares worth approximately $1.25 million following the completion of this transaction.
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Also, Dziewisz John J sold 1,094 shares, netting a total of over 8,528 in proceeds. Following the sale of shares at $7.79 each, the insider now holds 143,607 shares.
Before that, Dziewisz John J had sold 2,050 shares from its account. In a trade valued at $16,502, the General Counsel & Secretary traded Babcock & Wilcox Enterprises Inc. shares for $8.05 each. Upon closing the transaction, the insider’s holdings decreased to 2,050 shares, worth approximately $1.14 million.
As published in their initiating research note from Craig Hallum on July 19, 2022, Babcock & Wilcox Enterprises Inc. [BW] has been a Buy and the price target has been revised to $11. This represents a 28.45% premium over Wednesday’s closing price. Analysts at Lake Street started covering the stock with ‘”a Buy”‘ outlook in a report released in late March. As of March 25, 2021, DA Davidson has initiated its “Buy” rating for BW. Earlier on February 18, 2021, B. Riley Securities initiated its rating. Their recommendation was “a Buy” for BW stock.
Analyzing BW’s Price Performance
On Wednesday, Babcock & Wilcox Enterprises Inc. [NYSE: BW] plunged -2.84% to $7.87. The stock’s lowest price that day was $7.80, but it reached a high of $8.41 in the same session. During the last five days, there has been a drop of approximately -5.18%. Over the course of the year, Babcock & Wilcox Enterprises Inc. shares have dropped approximately -12.75%. Shares of the company reached a 52-week high of $9.48 on 01/03/22 and a 52-week low of $5.19 on 05/11/22. A 50-day SMA is recorded $7.74, while a 200-day SMA reached $7.57. Nevertheless, trading volume fell to 1.15 million shares from 0.57 million shares the previous day.
Support And Resistance Levels for Babcock & Wilcox Enterprises Inc. (BW)
According to the 24-hour chart, there is a support level at 7.64, which, if violated, would cause prices to drop to 7.42. In the upper region, resistance lies at 8.25. The next price resistance is at 8.64. RSI (Relative Strength Index) is 47.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.04, which suggests the price will decrease in the coming days. Percent R is at 60.16%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Babcock & Wilcox Enterprises Inc. subject to short interest?
Stocks of Babcock & Wilcox Enterprises Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 100000.0 shares to 2.53 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.63 million shares. A decline of -3.95% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.01 of the overall float, the days-to-cover ratio (short ratio) decline to 7.01.
Which companies own the most shares of Babcock & Wilcox Enterprises Inc. (BW)?
According to B. Riley Capital Management LLC filings, the company currently owns 27,254,428 shares, which is about 30.94% of the total BW shares outstanding. The investor’s shares have appreciated by 2,008,755 from its previous 13-F filing of 25245673.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $91,919,920. Neuberger Berman Investment Advis acquire a 2.11% interest valued at $46.34 million while BlackRock Fund Advisors purchased a 4,327 stake. A total of -559,078 shares of Babcock & Wilcox Enterprises Inc. were bought by Allspring Global Investments LLC during the quarter, and 160,994 were bought by Hood River Capital Management LLC. In its current portfolio, The Vanguard Group, Inc. holds 2,511,021 shares valued at $20.04 million.
In terms of Babcock & Wilcox Enterprises Inc. share price expectations, FactSet research, analysts set an average price target of $11.00 in the next 12 months, up nearly 54.32% from the previous closing price of $8.10. Analysts anticipate Babcock & Wilcox Enterprises Inc. stock to reach $13.00 by 2022, with the lowest price target being $6.50. In spite of this, 5 analysts ranked Babcock & Wilcox Enterprises Inc. stock as an Overweight at the end of 2022.