Babcock & Wilcox Enterprises, Inc. (BW) saw its stock price decline by 1.84% on January 10, 2025, closing at $1.60 after opening at $1.65. The stock experienced a high of $1.64 and a low of $1.57, with trading volume reaching 1,545,494 shares, which is 114.97% of its average daily volume. The decline in BW's stock price comes amid broader market concerns following a stronger-than-expected U.S. jobs report, which has fueled fears of prolonged high interest rates. The report showed that U.S. employers added 256,000 jobs in December, significantly surpassing the anticipated 153,000, leading to a rise in Treasury yields and a sell-off in equities.
Despite increased institutional interest in BW, as evidenced by Barclays PLC's substantial stake increase and Geode Capital Management's modest addition, the stock was unable to withstand the negative market sentiment. The broader market downturn, driven by concerns over the Federal Reserve's potential delay in cutting interest rates, overshadowed any positive impact from institutional activity.