Babcock (NYSE:BW) Stock Price Up 7.6% – Here’s What Happened

Shares of Babcock (NYSE:BW) were up 7.6% on Tuesday . The company traded as high as $7.62 and last traded at $7.64. Approximately 637,883 shares traded hands during trading, a decline of 84% from the average session volume of 4,085,504 shares. The stock had previously closed at $7.10.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Weiss Ratings upgraded Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC started coverage on shares of Babcock in a report on Monday, August 31st. They set a “buy” rating and a $20.00 price objective on the stock. Four 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’s stock. Based on data from MarketBeat.com, Babcock presently has an average rating of “Hold” and a consensus target price of $15.40.

Babcock Trading Down 3.7%

The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 4.21. The company has a market cap of $1.11 billion, a P/E ratio of -41.39 and a beta of 1.19. The business has a fifty day moving average price of $9.32 and a 200-day moving average price of $13.40.

Babcock (NYSE:BW) last announced its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%.The firm had revenue of $319.72 million during the quarter, compared to analysts’ expectations of $196.95 million. On average, analysts forecast that Babcock will post 0.27 earnings per share for the current year.

Insider Transactions at Babcock

In related news, Director Philip Moeller purchased 5,000 shares of Babcock stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director owned 240,809 shares in the company, valued at approximately $2,287,685.50. This trade represents a 2.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Babcock

Institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank lifted its holdings in Babcock by 400,000.0% in the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after buying an additional 4,000 shares during the period. Rockefeller Capital Management L.P. bought a new stake in Babcock during the fourth quarter worth $25,000. Integrated Wealth Concepts LLC purchased a new stake in Babcock in the 2nd quarter valued at $25,000. Royal Bank of Canada raised its position in Babcock by 57.3% in the 1st quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Finally, Centiva Capital LP bought a new position in Babcock during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 83.17% of the company’s stock.

Babcock Company Profile

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.