Babcock (NYSE:BW) Sees Large Volume Increase – Time to Buy?

Babcock (NYSE:BW) shares saw unusually-high trading volume on Thursday . Approximately 3,614,757 shares were traded during trading, an increase of 73% from the previous session’s volume of 2,083,854 shares.The stock last traded at $5.36 and had previously closed at $4.80.

Analyst Ratings Changes

A number of research analysts recently weighed in on BW shares. Wall Street Zen lowered Babcock from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Lake Street Capital reissued a “buy” rating and set a $9.00 price target on shares of Babcock in a report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a report on Wednesday, October 8th. Finally, Craig Hallum raised Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.67.

Babcock Trading Up 6.1%

The business has a 50-day simple moving average of $3.10 and a 200 day simple moving average of $1.72. The stock has a market cap of $514.99 million, a P/E ratio of -3.03 and a beta of 1.91.

Babcock (NYSE:BW) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $149.00 million for the quarter, compared to analyst estimates of $155.57 million.

Insider Buying and Selling

In related news, CEO Kenneth M. Young bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average price of $1.51 per share, for a total transaction of $30,200.00. Following the transaction, the chief executive officer directly owned 261,745 shares of the company’s stock, valued at approximately $395,234.95. The trade was a 8.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Cameron M. Frymyer purchased 20,000 shares of Babcock stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $1.55 per share, with a total value of $31,000.00. Following the completion of the acquisition, the chief financial officer directly owned 153,805 shares of the company’s stock, valued at approximately $238,397.75. This trade represents a 14.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 59,347 shares of company stock worth $99,803 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Babcock

A number of institutional investors and hedge funds have recently made changes to their positions in BW. Gendell Jeffrey L increased its position in Babcock by 49.2% in the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock valued at $2,477,000 after buying an additional 849,602 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Babcock by 13.6% during the first quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock worth $1,333,000 after purchasing an additional 237,797 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Babcock by 1.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company’s stock worth $1,160,000 after purchasing an additional 22,452 shares in the last quarter. Brightline Capital Management LLC lifted its holdings in shares of Babcock by 2.6% in the 1st quarter. Brightline Capital Management LLC now owns 1,550,000 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Heartland Advisors Inc. grew its position in Babcock by 2.7% in the 1st quarter. Heartland Advisors Inc. now owns 1,411,000 shares of the technology company’s stock valued at $949,000 after purchasing an additional 37,500 shares during the period. Institutional investors own 83.17% of the company’s stock.

About Babcock

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.