Babcock & Wilcox Enterprises (NYSE:BW) Shares Down 7.7%

Shares of Babcock & Wilcox Enterprises Inc (NYSE:BW) dropped 7.7% during trading on Wednesday . The stock traded as low as $0.35 and last traded at $0.36. Approximately 766,433 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,577,667 shares. The stock had previously closed at $0.39.

Babcock & Wilcox Enterprises (NYSE:BW) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.29) earnings per share (EPS) for the quarter. Babcock & Wilcox Enterprises had a negative net margin of 62.87% and a negative return on equity of 457.12%. The firm had revenue of $231.90 million for the quarter.

In related news, Director Bryant R. Riley acquired 262,502 shares of Babcock & Wilcox Enterprises stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average cost of $0.41 per share, with a total value of $107,625.82. Following the purchase, the director now directly owns 240,969 shares in the company, valued at approximately $98,797.29. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kenneth M. Young acquired 147,166 shares of Babcock & Wilcox Enterprises stock in a transaction dated Tuesday, May 14th. The shares were bought at an average cost of $0.41 per share, with a total value of $60,338.06. Following the completion of the purchase, the chief executive officer now owns 147,166 shares in the company, valued at $60,338.06. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 805,874 shares of company stock worth $335,572. 15.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SCW Capital Management LP bought a new position in Babcock & Wilcox Enterprises during the fourth quarter valued at about $2,951,000. Vanguard Group Inc. increased its stake in shares of Babcock & Wilcox Enterprises by 9.2% in the third quarter. Vanguard Group Inc. now owns 6,717,734 shares of the technology company’s stock worth $6,919,000 after purchasing an additional 568,418 shares during the period. Wynnefield Capital Inc. increased its stake in shares of Babcock & Wilcox Enterprises by 12.4% in the fourth quarter. Wynnefield Capital Inc. now owns 4,080,000 shares of the technology company’s stock worth $1,593,000 after purchasing an additional 450,001 shares during the period. B. Riley Financial Inc. increased its stake in shares of Babcock & Wilcox Enterprises by 0.5% in the fourth quarter. B. Riley Financial Inc. now owns 10,908,713 shares of the technology company’s stock worth $4,259,000 after purchasing an additional 57,000 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Babcock & Wilcox Enterprises by 0.9% in the fourth quarter. BlackRock Inc. now owns 6,034,454 shares of the technology company’s stock worth $2,355,000 after purchasing an additional 52,579 shares during the period. 60.79% of the stock is owned by institutional investors and hedge funds.

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About Babcock & Wilcox Enterprises (NYSE:BW)

Babcock & Wilcox Enterprises, Inc provides fossil and renewable power generation and environmental equipment for the power and industrial markets worldwide. Its Babcock & Wilcox segment engages in the engineering, procurement, specialty manufacturing, construction, and commissioning of new and retrofit utility boilers and industrial boilers fired with coal and natural gas; and boiler cleaning equipment and material handling equipment.

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