Babcock (NYSE:BW) Stock Price Up 8.2% – Here’s Why

Babcock (NYSE:BW) traded up 8.2% during trading on Monday . The company traded as high as $11.47 and last traded at $11.3730. 2,189,091 shares were traded during mid-day trading, a decline of 43% from the average session volume of 3,844,867 shares. The stock had previously closed at $10.51.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BW shares. Zacks Research upgraded Babcock to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a report on Wednesday, January 21st. Finally, Northland Securities assumed coverage on shares of Babcock in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.00.

Babcock Stock Performance

The company’s fifty day moving average price is $9.59 and its 200-day moving average price is $6.23. The stock has a market cap of $1.30 billion, a P/E ratio of -21.60 and a beta of 1.54.

Babcock (NYSE:BW) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $161.00 million for the quarter, compared to analyst estimates of $179.10 million.

Insider Transactions at Babcock

In related news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $9.00, for a total transaction of $10,398,438.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.90% of the company’s stock.

Institutional Trading of Babcock

Several institutional investors have recently made changes to their positions in BW. Huntington National Bank lifted its stake in 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 acquiring an additional 4,000 shares in the last quarter. Centiva Capital LP acquired a new stake in shares of Babcock during the third quarter worth about $31,000. Raymond James Financial Inc. grew its position in shares of 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 acquiring an additional 11,990 shares during the last quarter. Sender Co & Partners Inc. acquired a new stake in shares of Babcock during the third quarter worth about $50,000. Finally, Platform Technology Partners acquired a new stake in Babcock during the 3rd quarter worth approximately $54,000. 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.