Babcock (NYSE:BW) dropped 6.1% on Wednesday . The stock traded as low as $3.55 and last traded at $3.57. Approximately 3,852,555 shares were traded during mid-day trading, an increase of 20% from the average daily volume of 3,212,440 shares. The stock had previously closed at $3.80.

BW has been the subject of several analyst reports. Zacks Investment Research raised Babcock from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Monday, July 3rd. BidaskClub downgraded Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. KeyCorp reaffirmed a “hold” rating on shares of Babcock in a research report on Friday, September 22nd. UBS AG downgraded Babcock from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $13.00 to $3.00 in a research report on Monday, August 14th. Finally, Credit Suisse Group decreased their target price on Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $7.18.

The firm’s market capitalization is $174.50 million. The company’s 50-day moving average price is $3.37 and its 200 day moving average price is $3.37.

Babcock (NYSE:BW) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported ($2.63) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($2.68). The business had revenue of $349.80 million during the quarter, compared to the consensus estimate of $434.34 million. Babcock had a negative return on equity of 35.95% and a negative net margin of 14.41%. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. On average, analysts forecast that Babcock will post ($2.51) EPS for the current fiscal year.

In other Babcock news, major shareholder Vintage Capital Management Llc acquired 1,686,945 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were acquired at an average cost of $3.10 per share, for a total transaction of $5,229,529.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC grew its position in Babcock by 0.7% during the second quarter. ETRADE Capital Management LLC now owns 13,288 shares of the technology company’s stock worth $156,000 after buying an additional 95 shares in the last quarter. Victory Capital Management Inc. grew its position in Babcock by 2.3% during the first quarter. Victory Capital Management Inc. now owns 66,800 shares of the technology company’s stock worth $624,000 after buying an additional 1,525 shares in the last quarter. American International Group Inc. grew its position in Babcock by 7.1% during the first quarter. American International Group Inc. now owns 28,154 shares of the technology company’s stock worth $263,000 after buying an additional 1,859 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Babcock by 30.9% during the second quarter. Public Employees Retirement System of Ohio now owns 9,330 shares of the technology company’s stock worth $110,000 after buying an additional 2,200 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Babcock by 0.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 282,251 shares of the technology company’s stock worth $2,637,000 after buying an additional 2,430 shares in the last quarter. 93.92% of the stock is currently owned by institutional investors and hedge funds.

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Babcock Company Profile

Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial.

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