Babcock (NYSE:BW) Trading Up 5.2% – Time to Buy?

Babcock (NYSE:BW) rose 5.2% during trading on Friday . The stock traded as high as $9.37 and last traded at $9.2780. Approximately 776,706 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 3,282,445 shares. The stock had previously closed at $8.82.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BW shares. Lake Street Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Babcock in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a research note on Wednesday. Craig Hallum raised shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Wednesday, November 5th. Wall Street Zen raised shares of Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Northland Securities initiated coverage on shares of Babcock in a research note on Thursday. They set an “outperform” rating and a $10.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Babcock currently has an average rating of “Hold” and an average target price of $8.00.

Babcock Price Performance

The firm has a market capitalization of $1.06 billion, a PE ratio of -7.33 and a beta of 1.43. The stock’s 50-day moving average price is $6.44 and its 200 day moving average price is $3.90.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BW. Centiva Capital LP purchased a new position in Babcock during the 3rd quarter worth approximately $31,000. Raymond James Financial Inc. increased its stake 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 worth $35,000 after acquiring an additional 11,990 shares during the period. Sender Co & Partners Inc. purchased a new position in shares of Babcock during the third quarter worth $50,000. Platform Technology Partners acquired a new position in Babcock during the third quarter valued at $54,000. Finally, Kathmere Capital Management LLC purchased a new stake in Babcock in the third quarter valued at $58,000. 83.17% of the stock is owned by institutional investors and hedge funds.

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.