A level of support has emerged in the chart of Babcock & Wilcox Enterprises, Inc. (BW). The stock has tested this level multiple times over the past six months. If the stock falls through this level, a breakdown is expected. Read more to learn how to take advantage of this trade.Babcock & Wilcox Enterprises, Inc. (BW) provides advanced fossil and renewable power generation and environmental equipment. B&W's technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions
The company had a solid quarter where revenue rose 49.8% year over year and net income increased to $3.1 million, compared to a loss of $18.1 million in the same quarter last year. BW launched its ClimateBright platform in May with a pipeline of potential carbon capture and hydrogen combustion opportunities.
The firm had $144 million in cash as of the most recent quarter compared to only $3 million in short-term debt. Analysts expect sales to rise 33.8% for the year. However, earnings are expected to fall 95.1% in the current quarter.