Babcock (NYSE:BW) Shares Down 6.9% – What’s Next?

by · The Cerbat Gem

Babcock (NYSE:BW – Get Free Report)’s share price traded down 6.9% during mid-day trading on Tuesday . The company traded as low as $5.13 and last traded at $5.15. 1,928,428 shares were traded during mid-day trading, a decline of 20% from the average session volume of 2,398,812 shares. The stock had previously closed at $5.53.

Wall Street Analysts Forecast Growth

BW has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Lake Street Capital restated a “buy” rating and issued a $9.00 target price on shares of Babcock in a research note on Wednesday, November 5th. Wall Street Zen raised shares of Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Craig Hallum upgraded Babcock from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Wednesday, November 5th. Finally, DA Davidson raised their price objective on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.33.

Check Out Our Latest Stock Report on Babcock

Babcock Trading Down 7.6%

The company has a market capitalization of $567.39 million, a PE ratio of -3.93 and a beta of 1.37. The business’s 50-day simple moving average is $5.04 and its 200-day simple moving average is $2.83.

Babcock (NYSE:BW – Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $149.00 million for the quarter, compared to analyst estimates of $155.57 million.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Centiva Capital LP acquired a new stake in shares of Babcock during the 3rd quarter worth approximately $31,000. Raymond James Financial Inc. increased its holdings in Babcock by 11,311.3% in the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after buying an additional 11,990 shares in the last quarter. Sender Co & Partners Inc. acquired a new position in shares of Babcock in the third quarter worth about $50,000. Platform Technology Partners purchased a new stake in shares of Babcock during the 3rd quarter worth about $54,000. Finally, Kathmere Capital Management LLC acquired a new stake in shares of Babcock during the 3rd quarter valued at about $58,000. 83.17% of the stock is owned by institutional investors and hedge funds.

Babcock Company Profile

(Get Free Report)

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

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