Babcock (NYSE:BW) Stock Price Up 5.2% – What’s Next?

Babcock (NYSE:BW) traded up 5.2% during trading on Friday . The stock traded as high as $9.37 and last traded at $9.2780. 776,706 shares were traded during trading, a decline of 76% from the average session volume of 3,282,445 shares. The stock had previously closed at $8.82.

Analysts Set New Price Targets

Several analysts recently issued reports on BW shares. Wall Street Zen raised shares of Babcock from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. DA Davidson lifted their price objective on shares of Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a report on Wednesday. Lake Street Capital reiterated a “buy” rating and set a $9.00 price target on shares of Babcock in a research note on Wednesday, November 5th. Finally, Craig Hallum raised Babcock from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Babcock has a consensus rating of “Hold” and a consensus price target of $8.00.

Babcock Trading Up 8.3%

The company’s fifty day simple moving average is $6.44 and its 200 day simple moving average is $3.90. The stock has a market capitalization of $1.06 billion, a P/E ratio of -7.33 and a beta of 1.43.

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

Institutional Trading of Babcock

A number of hedge funds have recently bought and sold shares of BW. Centiva Capital LP purchased a new stake in Babcock during the third quarter valued at approximately $31,000. Raymond James Financial Inc. grew its position in shares of Babcock by 11,311.3% during the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after acquiring an additional 11,990 shares during the period. Ironwood Investment Management LLC increased its stake in shares of Babcock by 7.8% in the 3rd quarter. Ironwood Investment Management LLC now owns 211,307 shares of the technology company’s stock worth $613,000 after purchasing an additional 15,308 shares in the last quarter. Sender Co & Partners Inc. bought a new position in Babcock in the 3rd quarter worth $50,000. Finally, Platform Technology Partners purchased a new position in Babcock during the third quarter valued at $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.