Babcock (NYSE:BW) Shares Gap Down – What’s Next?

Babcock (NYSE:BW)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $7.94, but opened at $7.33. Babcock shares last traded at $7.2060, with a volume of 739,882 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC started coverage on shares of Babcock in a report on Monday, August 31st. They issued a “buy” rating and a $20.00 price objective on the stock. Wall Street Zen cut Babcock from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Weiss Ratings raised Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Babcock has an average rating of “Hold” and a consensus target price of $15.40.

Babcock Price Performance

The stock has a 50 day moving average of $8.99 and a two-hundred day moving average of $13.35. The stock has a market cap of $1.04 billion, a PE ratio of -38.69 and a beta of 1.19. The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.33 and a current ratio of 1.45.

Babcock (NYSE:BW) last posted its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $319.72 million during the quarter, compared to analyst estimates of $196.95 million. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. Equities analysts anticipate that Babcock will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other news, Director Philip Moeller bought 5,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $9.50 per share, with a total value of $47,500.00. Following the purchase, the director directly owned 240,809 shares in the company, valued at $2,287,685.50. This trade represents a 2.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BW. Integrated Wealth Concepts LLC purchased a new position in Babcock during the second quarter valued at approximately $25,000. Royal Bank of Canada boosted its stake in shares of Babcock by 57.3% during the 1st quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock valued at $26,000 after buying an additional 650 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Babcock during the 4th quarter valued at $25,000. Huntington National Bank increased its stake in shares of Babcock by 400,000.0% in the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after acquiring an additional 4,000 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Babcock during the first quarter worth $162,000. 83.17% of the stock is owned by institutional investors and hedge funds.

About Babcock

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is an energy and environmental technology company that provides equipment, technologies and services for power generation and industrial applications. The company serves utilities, industrial operators and other customers seeking to generate energy, improve operating efficiency and reduce emissions.

Its offerings include steam generation systems, boilers, replacement parts, maintenance and engineering services, as well as technologies for controlling air pollution and managing solid waste.