Babcock (NYSE:BW) shares gapped up before the market opened on Tuesday . The stock had previously closed at $2.11, but opened at $2.05. Babcock shares last traded at $1.92, with a volume of 2,591,710 shares traded.

Several brokerages have recently weighed in on BW. BidaskClub cut shares of Babcock from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Credit Suisse Group dropped their price target on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating on the stock in a research note on Friday, August 11th. Zacks Investment Research cut shares of Babcock from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. UBS AG cut shares of Babcock from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $13.00 to $3.00 in a research note on Monday, August 14th. Finally, Sidoti dropped their price target on shares of Babcock from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, May 25th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $10.14.

The firm’s 50-day moving average price is $8.77 and its 200-day moving average price is $10.58. The stock’s market cap is $89.92 million.

Babcock (NYSE:BW) last announced its quarterly earnings results on Wednesday, August 9th. The technology company reported ($2.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by $2.68. The firm had revenue of $349.80 million for the quarter, compared to analysts’ expectations of $434.34 million. Babcock had a negative return on equity of 35.95% and a negative net margin of 14.41%. The business’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period last year, the company posted ($0.20) earnings per share. On average, equities analysts expect that Babcock will post ($1.92) earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of BW. Deroy & Devereaux Private Investment Counsel Inc. increased its position in Babcock by 674.8% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 912,674 shares of the technology company’s stock valued at $8,524,000 after buying an additional 794,874 shares during the last quarter. Brandes Investment Partners LP increased its position in Babcock by 322.6% in the first quarter. Brandes Investment Partners LP now owns 973,934 shares of the technology company’s stock valued at $9,096,000 after buying an additional 743,483 shares during the last quarter. California Public Employees Retirement System increased its position in Babcock by 467.1% in the second quarter. California Public Employees Retirement System now owns 838,100 shares of the technology company’s stock valued at $9,856,000 after buying an additional 690,300 shares during the last quarter. Great Lakes Advisors LLC increased its position in Babcock by 535.0% in the second quarter. Great Lakes Advisors LLC now owns 720,147 shares of the technology company’s stock valued at $8,469,000 after buying an additional 606,743 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Babcock by 29.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,034,928 shares of the technology company’s stock valued at $19,006,000 after buying an additional 458,237 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors and hedge funds.

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About Babcock

Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial.

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