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 $5,811 were purchased by Tato Joseph A on Mar 18 ’24. At $0.97 per share, Tato Joseph A acquired 6,000 shares. The insider’s holdings grew to 67,303 shares worth approximately $71341.18000000001 following the completion of this transaction.
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Also, Bartoli Henry E purchased 10,000 shares, netting a total of over 15,078 in proceeds. Following the buying of shares at $1.51 each, the insider now holds 278,049 shares.
Before that, B. Riley Financial, Inc. had added 157,883 shares to its account. In a trade valued at $182,907, the 10% Owner bought Babcock & Wilcox Enterprises Inc shares for $1.16 each. Upon closing the transaction, the insider’s holdings increased to 157,883 shares, worth approximately $8.06 million.
As published in a research note from Craig Hallum on November 10, 2023, Babcock & Wilcox Enterprises Inc [BW] has been rated down from a Buy to a Hold and the price target has been revised to $2 from $10. Analysts at Craig Hallum started covering the stock with ‘”a Buy”‘ outlook in a report released in mid July. As of March 25, 2021, Lake Street has initiated its “Buy” rating for BW. Earlier on March 25, 2021, DA Davidson initiated its rating. Their recommendation was “a Buy” for BW stock.
Analyzing BW Stock Performance
During the last five days, there has been a drop of approximately -17.19%. Over the course of the year, Babcock & Wilcox Enterprises Inc shares have dropped approximately -27.40%. Shares of the company reached a 52-week high of $1.6400 on 03/06/24 and a 52-week low of $0.7530 on 03/18/24. A 50-day SMA is recorded $1.2282, while a 200-day SMA reached $3.2112. Nevertheless, trading volume fell to 3.37 million shares from 6.98 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 1.0000, which, if violated, would cause prices to drop to 0.9400. In the upper region, resistance lies at 1.1700. The next price resistance is at 1.2800. RSI (Relative Strength Index) is 44.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1894, which suggests the price will decrease in the coming days. Percent R is at 65.39%, 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 Feb 29, 2024 jumping by 2.1 million shares to 3.99 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 1.89 million shares. A jump of 52.63% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.8 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.8.
