Babcock (NYSE:BW) Trading Down 9% – Here’s What Happened

Babcock (NYSE:BW)’s share price fell 9% during trading on Thursday . The stock traded as low as $13.70 and last traded at $13.4320. 886,835 shares traded hands during trading, a decline of 75% from the average session volume of 3,592,031 shares. The stock had previously closed at $14.76.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BW shares. Northland Securities initiated coverage on Babcock in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 price target on the stock. Zacks Research upgraded shares of Babcock to a “hold” rating in a research report on Friday, January 23rd. DA Davidson raised their price target on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

Babcock Price Performance

The company has a fifty day moving average price of $9.38 and a 200 day moving average price of $6.06. The stock has a market cap of $1.49 billion, a P/E ratio of -24.81 and a beta of 1.54.

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

Insider Activity

In related news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Babcock

Several institutional investors have recently modified their holdings of the business. Huntington National Bank grew its position in Babcock by 400,000.0% during 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. Centiva Capital LP bought a new stake in Babcock in the third quarter worth about $31,000. Raymond James Financial Inc. boosted its stake 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 acquiring an additional 11,990 shares during the last quarter. Sender Co & Partners Inc. bought a new position in shares of Babcock during the 3rd quarter valued at approximately $50,000. Finally, Platform Technology Partners bought a new position in shares of Babcock during the 3rd quarter valued at approximately $54,000. 83.17% of the stock is owned by institutional investors.

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.