Babcock (NYSE:BW) Trading Down 3.4% – Should You Sell?

Babcock (NYSE:BW)’s share price traded down 3.4% during mid-day trading on Monday . The stock traded as low as $4.81 and last traded at $4.7320. 115,723 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 2,408,564 shares. The stock had previously closed at $4.90.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BW. Lake Street Capital reissued a “buy” rating and issued a $9.00 target price on shares of Babcock in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Craig Hallum raised shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Wednesday, November 5th. Finally, DA Davidson increased their target price on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.33.

Babcock Price Performance

The company has a 50 day moving average of $5.16 and a two-hundred day moving average of $2.95. The company has a market capitalization of $541.61 million, a PE ratio of -3.75 and a beta of 1.37.

Babcock (NYSE:BW) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $149.00 million for the quarter, compared to analysts’ expectations of $155.57 million.

Institutional Investors Weigh In On Babcock

Institutional investors have recently made changes to their positions in the company. Centiva Capital LP purchased a new stake in shares of Babcock during the third quarter valued at $31,000. Raymond James Financial Inc. grew its position 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 valued at $35,000 after buying an additional 11,990 shares during the period. Sender Co & Partners Inc. bought a new stake in Babcock during the third quarter valued at approximately $50,000. Platform Technology Partners purchased a new stake in Babcock during the third quarter valued at approximately $54,000. Finally, Kathmere Capital Management LLC bought a new position in Babcock in the third quarter worth approximately $58,000. 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.