Insider Buying: Babcock (NYSE:BW) CEO Buys 1,675 Shares of Stock

Babcock (NYSE:BW) CEO Kenneth Young acquired 1,675 shares of the stock in a transaction dated Wednesday, November 12th. The stock was bought at an average price of $7.16 per share, for a total transaction of $11,993.00. Following the purchase, the chief executive officer owned 272,767 shares of the company’s stock, valued at $1,953,011.72. The trade was a 0.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Babcock Trading Down 2.9%

NYSE:BW traded down $0.20 during trading hours on Thursday, hitting $6.80. 2,718,773 shares of the company traded hands, compared to its average volume of 2,290,341. Babcock has a twelve month low of $0.22 and a twelve month high of $7.77. The firm has a 50-day moving average of $3.50 and a 200 day moving average of $1.92. The stock has a market capitalization of $755.37 million, a price-to-earnings ratio of -3.99 and a beta of 1.91.

Babcock (NYSE:BW) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) earnings per share (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 the consensus estimate of $155.57 million.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Platform Technology Partners bought a new position in shares of Babcock during the third quarter worth $54,000. Kathmere Capital Management LLC bought a new stake in shares of Babcock in the third quarter worth about $58,000. Global Retirement Partners LLC acquired a new stake in shares of Babcock during the third quarter worth about $71,000. Jefferies Financial Group Inc. acquired a new position in shares of Babcock in the 3rd quarter valued at approximately $74,000. Finally, Quinn Opportunity Partners LLC increased its stake in Babcock by 200.0% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock worth $87,000 after purchasing an additional 60,000 shares in the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

Wall Street Analyst Weigh In

BW has been the subject of a number of research reports. DA Davidson raised their price objective on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wall Street Zen upgraded Babcock from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Craig Hallum upgraded shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, November 5th. Lake Street Capital restated a “buy” rating and issued a $9.00 price objective on shares of Babcock in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.33.

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.