Babcock (NYSE:BW) Shares Down 7.3% – What’s Next?

by · The Cerbat Gem

Babcock (NYSE:BWGet Free Report)’s share price dropped 7.3% during mid-day trading on Monday . The company traded as low as $20.03 and last traded at $20.2640. Approximately 711,891 shares traded hands during trading, a decline of 82% from the average daily volume of 3,944,268 shares. The stock had previously closed at $21.85.

Analyst Ratings Changes

BW has been the topic of a number of recent research reports. Northland Securities set a $23.00 price target on shares of Babcock in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of Babcock from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research raised shares of Babcock to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Monday, April 20th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $19.00 price target on shares of Babcock in a research note on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Babcock has an average rating of “Hold” and a consensus target price of $14.25.

Check Out Our Latest Stock Analysis on Babcock

Babcock Stock Performance

The company has a market capitalization of $2.81 billion, a P/E ratio of -23.50 and a beta of 1.08. The firm’s fifty day moving average is $15.81 and its 200 day moving average is $10.24.

Babcock (NYSE:BWGet Free Report) last issued its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The company had revenue of $214.41 million for the quarter, compared to the consensus estimate of $149.72 million. On average, analysts forecast that Babcock will post 0.29 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kenneth M. Young purchased 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were bought at an average cost of $15.14 per share, for a total transaction of $105,980.00. Following the acquisition, the chief executive officer owned 1,656,512 shares of the company’s stock, valued at approximately $25,079,591.68. This trade represents a 0.42% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BW. Huntington National Bank increased its stake in Babcock by 400,000.0% in the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after buying an additional 4,000 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Babcock in the 4th quarter worth about $25,000. Centiva Capital LP purchased a new position in Babcock in the 3rd quarter worth about $31,000. Raymond James Financial Inc. increased its stake in Babcock by 11,311.3% in the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after buying an additional 11,990 shares during the period. Finally, Sender Co & Partners Inc. purchased a new position in Babcock in the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

About Babcock

(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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