Babcock (NYSE:BW) CFO Cameron Frymyer Purchases 2,853 Shares

Babcock (NYSE:BW) CFO Cameron Frymyer acquired 2,853 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average price of $7.05 per share, with a total value of $20,113.65. Following the transaction, the chief financial officer owned 156,658 shares in the company, valued at $1,104,438.90. This represents a 1.85% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Babcock Price Performance

BW stock traded down $0.20 on Thursday, hitting $6.80. 2,718,773 shares of the company were exchanged, compared to its average volume of 2,290,341. The business’s fifty day moving average is $3.50 and its two-hundred day moving average is $1.92. Babcock has a twelve month low of $0.22 and a twelve month high of $7.77. The stock has a market capitalization of $755.37 million, a price-to-earnings ratio of -3.99 and a beta of 1.91.

Babcock (NYSE:BW) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $149.00 million during the quarter, compared to analyst estimates of $155.57 million.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Craig Hallum upgraded shares of 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. Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. DA Davidson upped their price objective on Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday. Lake Street Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of Babcock in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.33.

Institutional Investors Weigh In On Babcock

Several large investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Babcock during the third quarter valued at approximately $14,086,000. Vanguard Group Inc. boosted its holdings in Babcock by 54.3% in the third quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock worth $12,827,000 after purchasing an additional 1,556,692 shares in the last quarter. Thames Capital Management LLC acquired a new position in Babcock during the third quarter worth $4,033,000. Gendell Jeffrey L increased its holdings in shares of Babcock by 49.2% during the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock valued at $2,477,000 after acquiring an additional 849,602 shares during the last quarter. Finally, AMH Equity Ltd acquired a new position in Babcock during the 3rd quarter valued at $2,042,000. Institutional investors own 83.17% of the company’s stock.

Babcock Company Profile

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.