Babcock Target of Unusually Large Options Trading (NYSE:BW)

by · The Cerbat Gem

Babcock (NYSE:BWGet Free Report) was the target of unusually large options trading activity on Friday. Traders purchased 4,745 call options on the company. This represents an increase of approximately 70% compared to the typical volume of 2,788 call options.

Insider Buying and Selling

In other Babcock news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total value of $10,398,438.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Babcock

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc purchased a new stake in Babcock during the third quarter valued at about $14,086,000. Marshall Wace LLP increased its position in shares of Babcock by 497.7% during the 3rd quarter. Marshall Wace LLP now owns 2,366,601 shares of the technology company’s stock valued at $6,863,000 after purchasing an additional 1,970,656 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Babcock by 54.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock valued at $12,827,000 after buying an additional 1,556,692 shares in the last quarter. Thames Capital Management LLC purchased a new position in shares of Babcock during the 3rd quarter valued at about $4,033,000. Finally, Situational Awareness LP bought a new stake in Babcock in the 4th quarter worth approximately $8,584,000. Institutional investors own 83.17% of the company’s stock.

Wall Street Analyst Weigh In

BW has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, January 21st. Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. DA Davidson lifted their price objective on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Zacks Research raised shares of Babcock to a “hold” rating in a report on Friday, January 23rd. Finally, Northland Securities assumed coverage on shares of Babcock in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.00.

Read Our Latest Stock Report on Babcock

Babcock Stock Up 8.5%

BW traded up $1.13 during trading on Friday, reaching $14.42. 2,545,982 shares of the company were exchanged, compared to its average volume of 3,454,566. Babcock has a 12-month low of $0.22 and a 12-month high of $14.59. The company’s 50-day moving average is $8.74 and its two-hundred day moving average is $5.69. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -26.70 and a beta of 1.54.

Babcock (NYSE:BWGet Free Report) last posted its earnings results on Wednesday, March 4th. The technology company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $161.00 million during the quarter, compared to analyst estimates of $179.10 million.

Babcock Company Profile

(Get Free Report)

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.

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