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 $2,229,100 were purchased by B. Riley Financial, Inc. on Nov 29. At $4.46 per share, B. Riley Financial, Inc. acquired 500,000 shares. The insider’s holdings grew to 12,032,399 shares worth approximately $79.05 million following the completion of this transaction.
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Also, Tato Joseph A purchased 4,000 shares, netting a total of over 19,800 in proceeds. Following the buying of shares at $4.95 each, the insider now holds 33,530 shares.
Before that, Young Kenneth M had added 5,000 shares to its account. In a trade valued at $24,388, the Chief Executive Officer bought Babcock & Wilcox Enterprises Inc. shares for $4.88 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $0.96 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 40.27% premium over Thursday’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 Stock Performance
On Thursday, Babcock & Wilcox Enterprises Inc. [NYSE: BW] rose 2.02% to $6.57. The stock’s lowest price that day was $6.44, but it reached a high of $6.65 in the same session. During the last five days, there has been a surge of approximately 0.31%. Over the course of the year, Babcock & Wilcox Enterprises Inc. shares have jumped approximately 13.86%. Shares of the company reached a 52-week high of $6.83 on 02/09/23 and a 52-week low of $5.55 on 01/03/23. A 50-day SMA is recorded $6.05, while a 200-day SMA reached $6.44. Nevertheless, trading volume fell to 0.5 million shares from 0.48 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 6.46, which, if violated, would cause prices to drop to 6.34. In the upper region, resistance lies at 6.67. The next price resistance is at 6.76. RSI (Relative Strength Index) is 55.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.09, which suggests the price will decrease in the coming days. Percent R is at 42.28%, 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 rise in short interest on Jan 30, 2023 jumping by 70000.0 shares to 2.94 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 2.87 million shares. A jump of 2.38% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.19 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.19.
Which companies own the most shares of Babcock & Wilcox Enterprises Inc. (BW)?
According to B. Riley Capital Management LLC filings, the company currently owns 27,288,639 shares, which is about 30.79% of the total BW shares outstanding. The investor’s shares have appreciated by 501,300 from its previous 13-F filing of 26787339.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $88,279,099. Neuberger Berman Investment Advis reduced a -0.61% interest valued at $40.56 million while BlackRock Fund Advisors purchased a 431,795 stake. A total of 35,781 shares of Babcock & Wilcox Enterprises Inc. were bought by The Vanguard Group, Inc. during the quarter, and 45,000 were bought by Royce & Associates LP. In its current portfolio, Allspring Global Investments LLC holds 1,902,726 shares valued at $12.63 million.
In terms of Babcock & Wilcox Enterprises Inc. share price expectations, FactSet research, analysts set an average price target of $9.20 in the next 12 months, up nearly 39.75% from the previous closing price of $6.44. Analysts anticipate Babcock & Wilcox Enterprises Inc. stock to reach $13.00 by 2023, with the lowest price target being $5.00. In spite of this, 5 analysts ranked Babcock & Wilcox Enterprises Inc. stock as an Overweight at the end of 2023.