Babcock (NYSE:BW) Shares Down 7.8% – What’s Next?

Shares of Babcock (NYSE:BW) traded down 7.8% on Thursday . The company traded as low as $8.30 and last traded at $8.40. 2,162,727 shares were traded during trading, a decline of 47% from the average session volume of 4,052,895 shares. The stock had previously closed at $9.11.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BW shares. Northland Securities set a $23.00 target price on shares of Babcock in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Babcock from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.25.

Babcock Trading Down 1.4%

The business has a 50-day moving average of $11.46 and a 200-day moving average of $13.58. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -46.16 and a beta of 1.21. The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.33 and a current ratio of 1.45.

Babcock (NYSE:BW) last released its quarterly earnings results on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $319.69 million for the quarter, compared to analyst estimates of $196.95 million. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%. As a group, research analysts forecast that Babcock will post 0.3 EPS for the current year.

Insider Buying and Selling

In other Babcock news, Director Philip D. Moeller purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director directly owned 240,809 shares in the company, valued at approximately $2,287,685.50. This trade represents a 2.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Babcock

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Situational Awareness LP purchased a new position in shares of Babcock during the fourth quarter worth about $8,584,000. UBS Group AG increased its position in Babcock by 337.1% in the 4th quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock valued at $9,163,000 after acquiring an additional 1,114,593 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Babcock in the 4th quarter valued at about $569,000. Cooper Creek Partners Management LLC purchased a new stake in Babcock during the 1st quarter valued at approximately $15,205,000. Finally, Lazard Asset Management LLC purchased a new stake in Babcock during the 1st quarter valued at approximately $1,874,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

About Babcock

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.