Babcock (NYSE:BW) Shares Gap Down – Here’s What Happened

Babcock (NYSE:BW)’s share price gapped down before the market opened on Wednesday. The stock had previously closed at $5.91, but opened at $5.60. Babcock shares last traded at $5.6150, with a volume of 473,995 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Babcock from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Weiss Ratings upgraded shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Finally, Needham & Company LLC initiated coverage on shares of Babcock in a research report on Monday, August 31st. They issued a “buy” rating and a $20.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.40.

Babcock Price Performance

The business has a fifty day moving average of $7.63 and a two-hundred day moving average of $12.62. The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.33 and a current ratio of 1.45. The firm has a market capitalization of $818.56 million, a price-to-earnings ratio of -30.53 and a beta of 1.17.

Babcock (NYSE:BW) last announced its quarterly earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%.The business had revenue of $319.72 million during the quarter, compared to the consensus estimate of $196.95 million. As a group, research analysts predict that Babcock will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Philip Moeller purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director owned 240,809 shares in the company, valued at approximately $2,287,685.50. This represents a 2.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Babcock

Institutional investors have recently made changes to their positions in the company. Whalen Wealth Management Inc. acquired a new position in shares of Babcock in the third quarter valued at approximately $109,000. Engineers Gate Manager LP lifted its holdings in Babcock by 116.1% during the 2nd quarter. Engineers Gate Manager LP now owns 53,109 shares of the technology company’s stock worth $749,000 after purchasing an additional 28,528 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Babcock in the 2nd quarter valued at $25,000. Arizona State Retirement System bought a new stake in Babcock in the 2nd quarter valued at $428,000. Finally, Readystate Asset Management LP acquired a new position in Babcock in the 2nd quarter valued at $1,900,000. Institutional investors own 83.17% of the company’s stock.

About Babcock

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is an energy and environmental technology company that provides products and services for power generation, industrial processing and emissions control. Its portfolio includes boilers, steam-generation equipment, thermal technologies, and systems designed to reduce air pollutants and improve energy efficiency.

The company also develops technologies for waste-to-energy, renewable energy, hydrogen production and carbon management. Its solutions are used by utilities, industrial operators, municipal organizations and other customers seeking to generate energy from conventional or alternative fuels while managing environmental impacts.

Babcock & Wilcox traces its roots to the Babcock & Wilcox Company, founded in the 19th century.