Babcock (NYSE:BW) Trading Down 7.4% – Time to Sell?

Shares of Babcock (NYSE:BW) traded down 7.4% on Wednesday . The stock traded as low as $13.14 and last traded at $13.05. 372,606 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 3,904,925 shares. The stock had previously closed at $14.10.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BW. Northland Securities set a $23.00 target price on Babcock in a report on Tuesday, May 12th. Wall Street Zen lowered shares of Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Monday, April 20th. Finally, Craig Hallum reissued a “buy” rating and issued a $19.00 price objective on shares of Babcock in a research note on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.25.

Babcock Trading Down 8.2%

The stock has a fifty day simple moving average of $16.87 and a two-hundred day simple moving average of $12.92. The company has a market cap of $1.74 billion, a PE ratio of -13.29 and a beta of 1.16.

Babcock (NYSE:BW) last released its earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The business had revenue of $214.41 million during the quarter, compared to the consensus estimate of $149.72 million. As a group, equities research analysts anticipate that Babcock will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Huntington National Bank boosted its position in shares of Babcock by 400,000.0% during the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after purchasing an additional 4,000 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Babcock in the 4th quarter valued at about $25,000. Royal Bank of Canada lifted its stake in shares of Babcock by 57.3% in the first quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock valued at $26,000 after purchasing an additional 650 shares during the period. Centiva Capital LP purchased a new stake in Babcock during the third quarter worth about $31,000. Finally, Raymond James Financial Inc. boosted its holdings in Babcock by 11,311.3% during the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after buying an additional 11,990 shares in the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

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.