Babcock (NYSE:BW) Director Purchases $18,600.00 in Stock

Babcock (NYSE:BW) Director Philip Moeller purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was acquired at an average cost of $1.86 per share, with a total value of $18,600.00. Following the transaction, the director directly owned 197,559 shares in the company, valued at $367,459.74. This trade represents a 5.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Babcock Stock Up 9.0%

Shares of BW stock opened at $2.24 on Monday. Babcock has a 52 week low of $0.22 and a 52 week high of $2.99. The stock has a market capitalization of $225.96 million, a PE ratio of -1.31 and a beta of 1.81. The firm has a 50 day moving average of $1.23 and a two-hundred day moving average of $0.93.

Babcock (NYSE:BW) last issued its quarterly earnings results on Monday, August 11th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The business had revenue of $144.10 million for the quarter, compared to the consensus estimate of $182.07 million.

Institutional Investors Weigh In On Babcock

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Advisers LP raised its position in shares of Babcock by 106.7% during the 4th quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company’s stock worth $44,000 after acquiring an additional 13,800 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Babcock during the 4th quarter worth about $27,000. Northern Trust Corp raised its position in shares of Babcock by 13.8% during the 4th quarter. Northern Trust Corp now owns 146,996 shares of the technology company’s stock worth $241,000 after acquiring an additional 17,860 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Babcock by 1.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company’s stock worth $1,160,000 after acquiring an additional 22,452 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Babcock during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 83.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BW. Craig Hallum raised Babcock from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Wall Street Zen lowered Babcock from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $3.00.

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.