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

Babcock (NYSE:BW) CFO Cameron Frymyer purchased 2,853 shares of Babcock 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 of the company’s stock, valued at $1,104,438.90. This trade represents a 1.85% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Babcock Stock Performance

NYSE:BW traded up $0.23 during trading hours on Friday, reaching $6.73. The stock had a trading volume of 3,494,934 shares, compared to its average volume of 2,310,746. The stock has a market cap of $747.15 million, a P/E ratio of -3.96 and a beta of 1.91. The stock has a 50 day simple moving average of $3.58 and a 200 day simple moving average of $1.96. Babcock has a 12-month low of $0.22 and a 12-month high of $7.77.

Babcock (NYSE:BW) last announced its quarterly earnings data 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 firm had revenue of $149.00 million during the quarter, compared to analysts’ expectations of $155.57 million.

Analysts Set New Price Targets

A number of research firms have recently commented on BW. DA Davidson raised their price target on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday. Craig Hallum raised Babcock from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, November 5th. Lake Street Capital reissued a “buy” rating and issued a $9.00 price target on shares of Babcock in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its holdings in Babcock by 13.6% in the first quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock worth $1,333,000 after buying an additional 237,797 shares during the last quarter. Quinn Opportunity Partners LLC boosted its stake in Babcock by 200.0% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock valued at $87,000 after purchasing an additional 60,000 shares during the last quarter. Brightline Capital Management LLC increased its holdings in shares of Babcock by 2.6% in the 1st quarter. Brightline Capital Management LLC now owns 1,550,000 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 40,000 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Babcock by 1.3% in the first quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company’s stock worth $1,160,000 after purchasing an additional 22,452 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its position in shares of Babcock by 2.7% during the first quarter. Heartland Advisors Inc. now owns 1,411,000 shares of the technology company’s stock valued at $949,000 after buying an additional 37,500 shares during the last quarter. 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.