Babcock (NYSE:BW) Shares Down 8.1% – Here’s Why

Babcock (NYSE:BW) fell 8.1% during trading on Monday. The company traded as low as $5.08 and last traded at $5.0170. Approximately 2,313,365 shares were traded during trading, a decline of 45% from the average daily volume of 4,224,035 shares. The stock had previously closed at $5.46.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BW shares. Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Needham & Company LLC assumed coverage on Babcock in a research report on Monday, August 31st. They set a “buy” rating and a $20.00 target price on the stock. Finally, Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.40.

Babcock Stock Down 8.2%

The business’s 50-day moving average is $7.55 and its 200-day moving average is $12.56. The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.33 and a current ratio of 1.45. The firm has a market cap of $747.06 million, a price-to-earnings ratio of -27.92 and a beta of 1.17.

Babcock (NYSE:BW) last issued its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $319.72 million for the quarter, compared to analyst estimates of $196.95 million. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. On average, equities analysts predict that Babcock will post 0.27 EPS for the current year.

Insider Transactions at Babcock

In other news, Director Philip Moeller bought 5,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. The trade was a 2.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Babcock

Institutional investors and hedge funds have recently made changes to their positions in the stock. Whalen Wealth Management Inc. acquired a new position in Babcock during the third quarter worth approximately $109,000. Engineers Gate Manager LP raised its stake in Babcock by 116.1% in the 2nd quarter. Engineers Gate Manager LP now owns 53,109 shares of the technology company’s stock worth $749,000 after purchasing an additional 28,528 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Babcock in the 2nd quarter valued at about $25,000. Arizona State Retirement System acquired a new position in shares of Babcock during the 2nd quarter worth approximately $428,000. Finally, Readystate Asset Management LP bought a new position in shares of Babcock during the second quarter worth approximately $1,900,000. Institutional investors own 83.17% of the company’s stock.

About Babcock

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is an energy and environmental technology company that provides products and services for power generation, industrial processing and emissions control. Its portfolio includes boilers, steam-generation equipment, thermal technologies, and systems designed to reduce air pollutants and improve energy efficiency.

The company also develops technologies for waste-to-energy, renewable energy, hydrogen production and carbon management. Its solutions are used by utilities, industrial operators, municipal organizations and other customers seeking to generate energy from conventional or alternative fuels while managing environmental impacts.

Babcock & Wilcox traces its roots to the Babcock & Wilcox Company, founded in the 19th century.