Babcock (NYSE:BW) Stock Price Down 15.8% – Here’s What Happened
by Michael Walen · The Markets DailyBabcock (NYSE:BW – Get Free Report) shares traded down 15.8% during trading on Wednesday . The stock traded as low as $9.40 and last traded at $9.3880. 2,441,532 shares changed hands during trading, a decline of 28% from the average session volume of 3,405,755 shares. The stock had previously closed at $11.15.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Lake Street Capital reiterated a “buy” rating and issued a $9.00 target price on shares of Babcock in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, January 21st. DA Davidson boosted their price objective on shares of Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Northland Securities started coverage on shares of Babcock in a research report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price objective for the company. Finally, Zacks Research upgraded shares of Babcock to a “hold” rating in a research note on Friday, January 23rd. Three 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.00.
Get Our Latest Report on Babcock
Babcock Stock Down 16.9%
The stock has a fifty day moving average of $7.08 and a two-hundred day moving average of $4.46. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -7.13 and a beta of 1.55.
Babcock (NYSE:BW – Get Free Report) last issued its earnings results on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $149.00 million for the quarter, compared to analysts’ expectations of $155.57 million.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in BW. Centiva Capital LP acquired a new stake in shares of Babcock during the 3rd quarter valued at approximately $31,000. Raymond James Financial Inc. increased its stake in Babcock by 11,311.3% in the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after purchasing an additional 11,990 shares in the last quarter. Sender Co & Partners Inc. purchased a new stake in Babcock during the third quarter worth $50,000. Pekin Hardy Strauss Inc. purchased a new stake in Babcock during the fourth quarter worth $111,000. Finally, Platform Technology Partners acquired a new stake in Babcock in the third quarter valued at $54,000. 83.17% of the stock is owned by hedge funds and other institutional investors.
Babcock Company Profile
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.