Babcock (NYSE:BW) Trading Down 6.9% – Time to Sell?

Babcock (NYSE:BW) shares dropped 6.9% during trading on Tuesday . The stock traded as low as $5.13 and last traded at $5.15. Approximately 1,928,428 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 2,398,812 shares. The stock had previously closed at $5.53.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BW shares. Craig Hallum upgraded Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday, November 5th. Wall Street Zen upgraded Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. DA Davidson raised their target price on Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $9.00 target price on shares of Babcock in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.33.

Babcock Price Performance

The business has a 50 day moving average of $5.12 and a 200 day moving average of $2.89. The firm has a market capitalization of $533.84 million, a price-to-earnings ratio of -3.70 and a beta of 1.37.

Babcock (NYSE:BW) last posted its earnings results 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 analyst estimates of $155.57 million.

Institutional Trading of Babcock

Several hedge funds have recently added to or reduced their stakes in the business. Centiva Capital LP bought a new stake in shares of Babcock during the third quarter worth $31,000. Raymond James Financial Inc. lifted its stake in shares of Babcock by 11,311.3% in 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 last quarter. Ironwood Investment Management LLC boosted its holdings in shares of Babcock by 7.8% during the 3rd quarter. Ironwood Investment Management LLC now owns 211,307 shares of the technology company’s stock valued at $613,000 after acquiring an additional 15,308 shares in the last quarter. Sender Co & Partners Inc. bought a new stake in Babcock during the 3rd quarter worth $50,000. Finally, Platform Technology Partners bought a new stake in Babcock during the 3rd quarter worth $54,000. Institutional investors and hedge funds own 83.17% of the company’s stock.

About Babcock

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.