Babcock (NYSE:BW)’s share price rose 8.4% during mid-day trading on Thursday . The stock traded as high as $4.97 and last traded at $4.92. Approximately 1,922,335 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 1,475,354 shares. The stock had previously closed at $4.54.

BW has been the subject of several research analyst reports. BidaskClub lowered shares of Babcock from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Credit Suisse Group decreased their price target on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a report on Friday, August 11th. UBS AG lowered shares of Babcock from a “buy” rating to a “neutral” rating and decreased their price target for the company from $13.00 to $3.00 in a report on Monday, August 14th. Zacks Investment Research lowered shares of Babcock from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, KeyCorp reissued a “hold” rating on shares of Babcock in a report on Friday, September 22nd. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Babcock has an average rating of “Hold” and a consensus target price of $7.18.

The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 0.67.

Babcock (NYSE:BW) last posted its quarterly earnings data on Wednesday, November 8th. The technology company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.25). The company had revenue of $408.70 million during the quarter, compared to the consensus estimate of $413.41 million. Babcock had a negative net margin of 22.48% and a negative return on equity of 50.88%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 earnings per share. equities analysts forecast that Babcock will post -3.07 earnings per share for the current year.

In related news, major shareholder Vintage Capital Management Llc acquired 1,686,945 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average cost of $3.10 per share, with a total value of $5,229,529.50. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. lifted its position in Babcock by 61.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 456,960 shares of the technology company’s stock valued at $5,374,000 after acquiring an additional 174,709 shares in the last quarter. Victory Capital Management Inc. lifted its position in Babcock by 77.4% in the 2nd quarter. Victory Capital Management Inc. now owns 118,500 shares of the technology company’s stock valued at $1,394,000 after acquiring an additional 51,700 shares in the last quarter. Nationwide Fund Advisors lifted its position in Babcock by 122.6% in the 2nd quarter. Nationwide Fund Advisors now owns 81,861 shares of the technology company’s stock valued at $963,000 after acquiring an additional 45,094 shares in the last quarter. Vanguard Group Inc. lifted its position in Babcock by 8.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,232,623 shares of the technology company’s stock valued at $49,776,000 after acquiring an additional 312,969 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Babcock by 29.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,034,928 shares of the technology company’s stock valued at $19,006,000 after acquiring an additional 458,237 shares in the last quarter. 90.14% of the stock is currently owned by institutional investors and hedge funds.

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About Babcock

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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