Babcock (NYSE:BW) Trading Up 4.3% – Should You Buy?

Babcock (NYSE:BW)’s stock price shot up 4.3% during trading on Wednesday . The stock traded as high as $5.20 and last traded at $5.1430. 264,665 shares were traded during trading, a decline of 89% from the average session volume of 2,402,368 shares. The stock had previously closed at $4.93.

Analyst Ratings Changes

Several research analysts have recently issued reports on BW shares. Craig Hallum upgraded shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Wednesday, November 5th. Lake Street Capital restated a “buy” rating and set a $9.00 price target on shares of Babcock in a research note on Wednesday, November 5th. DA Davidson raised their price objective on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. 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 company’s stock. According to MarketBeat, Babcock has a consensus rating of “Hold” and a consensus target price of $7.33.

Babcock Stock Performance

The company’s 50 day moving average price is $5.21 and its 200 day moving average price is $3.00. The company has a market cap of $590.50 million, a price-to-earnings ratio of -4.08 and a beta of 1.37.

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

Institutional Investors Weigh In On Babcock

A number of large investors have recently bought and sold shares of BW. Centiva Capital LP acquired a new position in Babcock in the third quarter worth $31,000. Raymond James Financial Inc. raised its holdings in shares of Babcock by 11,311.3% in the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after buying an additional 11,990 shares during the last quarter. Ironwood Investment Management LLC lifted its position in Babcock by 7.8% during the 3rd quarter. Ironwood Investment Management LLC now owns 211,307 shares of the technology company’s stock worth $613,000 after buying an additional 15,308 shares in the last quarter. Sender Co & Partners Inc. bought a new stake in Babcock during the 3rd quarter worth about $50,000. Finally, Platform Technology Partners acquired a new stake in Babcock in the 3rd quarter valued at about $54,000. 83.17% of the stock is currently owned by institutional investors.

About Babcock

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.