CastleKnight Management LP Sells 1,308,363 Shares of Babcock $BW

CastleKnight Management LP trimmed its holdings in Babcock (NYSE:BW) by 49.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,312,950 shares of the technology company’s stock after selling 1,308,363 shares during the period. CastleKnight Management LP owned 1.18% of Babcock worth $8,324,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Mariner LLC grew its position in Babcock by 10.8% in the fourth quarter. Mariner LLC now owns 16,608 shares of the technology company’s stock worth $105,000 after acquiring an additional 1,620 shares in the last quarter. Huntington National Bank grew its position in Babcock by 400,000.0% in the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after acquiring an additional 4,000 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Babcock by 29.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 19,400 shares of the technology company’s stock worth $123,000 after acquiring an additional 4,400 shares in the last quarter. State of Wyoming raised its stake in shares of Babcock by 88.7% in the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after acquiring an additional 4,936 shares in the last quarter. Finally, Centiva Capital LP bought a new position in shares of Babcock in the 3rd quarter valued at approximately $31,000. 83.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BW. Craig Hallum reissued a “buy” rating and issued a $19.00 price objective on shares of Babcock in a research note on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Monday, April 20th. Northland Securities set a $23.00 price objective on Babcock in a research note on Tuesday, May 12th. Finally, Wall Street Zen downgraded Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.25.

Babcock Stock Performance

Shares of BW stock opened at $17.09 on Thursday. The stock’s 50 day simple moving average is $17.44 and its 200 day simple moving average is $12.24. Babcock has a twelve month low of $0.87 and a twelve month high of $22.03. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -19.42 and a beta of 1.10.

Babcock (NYSE:BW) last issued its quarterly earnings data on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The company had revenue of $214.41 million during the quarter, compared to analyst estimates of $149.72 million. On average, analysts forecast that Babcock will post 0.31 EPS for the current fiscal year.

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.