Babcock (NYSE:BW) Trading 15% Higher – Still a Buy?

Babcock (NYSE:BW)’s stock price traded up 15% on Monday . The company traded as high as $6.40 and last traded at $6.45. 1,708,502 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 2,177,992 shares. The stock had previously closed at $5.61.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BW shares. Lake Street Capital reissued a “buy” rating and set a $9.00 price target on shares of Babcock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. 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 report on Wednesday, November 5th. Finally, Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.67.

Babcock Price Performance

The business’s 50 day moving average price is $3.23 and its 200 day moving average price is $1.80. The stock has a market capitalization of $770.37 million, a P/E ratio of -4.11 and a beta of 1.91.

Babcock (NYSE:BW) last posted its earnings results on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $149.00 million during the quarter, compared to the consensus estimate of $155.57 million.

Insider Buying and Selling at Babcock

In other Babcock news, CFO Cameron M. Frymyer acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $1.55 per share, with a total value of $31,000.00. Following the transaction, the chief financial officer directly owned 153,805 shares in the company, valued at approximately $238,397.75. The trade was a 14.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth M. Young bought 20,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average price of $1.51 per share, for a total transaction of $30,200.00. Following the completion of the transaction, the chief executive officer directly owned 261,745 shares of the company’s stock, valued at $395,234.95. This represents a 8.27% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 59,347 shares of company stock worth $99,803 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BW. Platform Technology Partners purchased a new stake in Babcock during the third quarter valued at approximately $54,000. Kathmere Capital Management LLC bought a new position in Babcock during the third quarter valued at $58,000. Global Retirement Partners LLC bought a new position in Babcock during the third quarter valued at $71,000. Quinn Opportunity Partners LLC raised its stake in shares of Babcock by 200.0% in the second quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock valued at $87,000 after acquiring an additional 60,000 shares during the period. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Babcock in the 3rd quarter worth about $96,000. 83.17% of the stock is currently owned by institutional investors.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.