Babcock (NYSE:BW) Shares Climb 10.1% – Here’s What Happened

Babcock (NYSE:BW – Get Free Report)’s share price rose 10.1% on Monday. The stock traded as high as $3.51 and last traded at $3.5770. 564,293 shares changed hands during trading, a decline of 87% from the average session volume of 4,218,663 shares. The stock had previously closed at $3.25.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Wall Street Zen cut Babcock from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Needham & Company LLC initiated coverage on Babcock in a report on Monday, August 31st. They set a “buy” rating and a $20.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Babcock currently has an average rating of “Hold” and a consensus price target of $17.00.

Read Our Latest Analysis on BW

Babcock Trading Up 16.8%

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 company has a market capitalization of $565.30 million, a price-to-earnings ratio of -21.08 and a beta of 1.24. The firm has a fifty day moving average price of $5.72 and a 200-day moving average price of $11.31.

Babcock (NYSE:BW – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. The business had revenue of $319.72 million during the quarter, compared to analysts’ expectations of $196.95 million. As a group, equities analysts anticipate that Babcock will post 0.27 EPS for the current year.

Insider Buying and Selling at Babcock

In other news, Director Philip Moeller purchased 5,000 shares of Babcock 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 transaction, the director owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. The trade was a 2.12% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Babcock

Hedge funds and other institutional investors have recently modified their holdings of the business. Kieckhefer Group LLC bought a new position in Babcock in the third quarter valued at about $2,298,000. Situational Awareness LP boosted its stake in shares of Babcock by 49.7% during the second quarter. Situational Awareness LP now owns 2,027,451 shares of the technology company’s stock valued at $28,587,000 after purchasing an additional 673,551 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Babcock during the first quarter worth about $15,205,000. Wellington Management Group LLP bought a new stake in shares of Babcock during the second quarter worth about $18,260,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Babcock during the second quarter worth about $8,636,000. Institutional investors own 83.17% of the company’s stock.

Babcock Company Profile

(Get Free Report)

Babcock & Wilcox Enterprises, Inc is an energy and environmental technology company that provides equipment, systems and services for power generation, industrial operations and waste management. Its offerings include steam-generating technologies, boilers, emissions-control systems, construction and maintenance services, and related engineering support.

The company also develops technologies for renewable energy and waste conversion, including solutions designed to transform waste and biomass into useful heat and power.

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