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

Babcock (NYSE:BW) shares were up 10.1% on Monday. The company traded as high as $3.51 and last traded at $3.5770. Approximately 564,293 shares were traded during trading, a decline of 87% from the average session volume of 4,218,663 shares. The stock had previously closed at $3.25.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BW shares. Weiss Ratings upgraded shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Wall Street Zen lowered shares of Babcock from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Needham & Company LLC assumed coverage on shares of Babcock in a research note on Monday, August 31st. They issued a “buy” rating and a $20.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Babcock presently has a consensus rating of “Hold” and an average price target of $17.00.

Babcock Stock Performance

The stock has a 50 day moving average of $5.72 and a 200 day moving average of $11.31. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 4.21. The company has a market capitalization of $565.30 million, a price-to-earnings ratio of -21.08 and a beta of 1.24.

Babcock (NYSE:BW) last announced its earnings results on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $319.72 million for the quarter, compared to analysts’ expectations of $196.95 million. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%. As a group, analysts predict that Babcock will post 0.27 EPS for the current year.

Insider Activity

In other news, Director Philip Moeller purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were purchased 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. This trade represents a 2.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Babcock

Several large investors have recently modified their holdings of BW. Russell Investments Group Ltd. grew its holdings in Babcock by 80.3% during the third quarter. Russell Investments Group Ltd. now owns 66,380 shares of the technology company’s stock worth $388,000 after buying an additional 29,564 shares in the last quarter. Pier 88 Investment Partners LLC grew its position in Babcock by 59.9% during the third quarter. Pier 88 Investment Partners LLC now owns 23,500 shares of the technology company’s stock valued at $137,000 after buying an additional 8,800 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Babcock by 28.3% during the 3rd quarter. Pictet Asset Management Holding SA now owns 20,687 shares of the technology company’s stock worth $121,000 after purchasing an additional 4,558 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Babcock by 64.0% in the third quarter. Chicago Partners Investment Group LLC now owns 24,202 shares of the technology company’s stock valued at $100,000 after buying an additional 9,448 shares during the period. Finally, Covestor Ltd raised its stake in Babcock by 11.4% in the 3rd quarter. Covestor Ltd now owns 122,683 shares of the technology company’s stock valued at $716,000 after acquiring an additional 12,582 shares during the period. 83.17% of the stock is currently owned by institutional investors and hedge funds.

About Babcock

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.