Babcock (NYSE:BW) Shares Gap Up – Time to Buy?

Babcock (NYSE:BW) gapped up before the market opened on Tuesday . The stock had previously closed at $11.74, but opened at $12.83. Babcock shares last traded at $13.5140, with a volume of 3,074,044 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BW shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a report on Wednesday, January 21st. Zacks Research raised Babcock to a “hold” rating in a research note on Friday, January 23rd. Finally, Northland Securities assumed coverage on shares of Babcock in a research note on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price target on the stock. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.00.

Babcock Trading Up 17.0%

The firm has a market cap of $1.53 billion, a PE ratio of -25.54 and a beta of 1.54. The firm has a fifty day simple moving average of $9.70 and a two-hundred day simple moving average of $6.30.

Babcock (NYSE:BW) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $161.00 million for the quarter, compared to analyst estimates of $179.10 million.

Insider Transactions at Babcock

In other Babcock news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $9.00, for a total transaction of $10,398,438.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Babcock

Large investors have recently made changes to their positions in the business. Mariner LLC raised its stake in Babcock by 10.8% during the fourth quarter. Mariner LLC now owns 16,608 shares of the technology company’s stock valued at $105,000 after buying an additional 1,620 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Babcock in the 4th quarter worth approximately $25,000. Huntington National Bank increased its position in Babcock by 400,000.0% during the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after acquiring an additional 4,000 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Babcock by 29.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 19,400 shares of the technology company’s stock worth $123,000 after purchasing an additional 4,400 shares during the period. Finally, State of Wyoming boosted its stake in shares of Babcock by 88.7% during the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock worth $67,000 after acquiring an additional 4,936 shares during the last quarter. 83.17% of the stock is currently owned by hedge funds and other 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.