Babcock (NYSE:BW) Stock Price Down 6.3% – Here’s Why

Babcock (NYSE:BW) shares traded down 6.3% on Wednesday . The company traded as low as $6.94 and last traded at $6.8750. 479,346 shares were traded during trading, a decline of 88% from the average session volume of 4,099,375 shares. The stock had previously closed at $7.34.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BW shares. Wall Street Zen cut Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC started coverage on shares of Babcock in a report on Monday, August 31st. They set a “buy” rating and a $20.00 target price for the company. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.40.

Babcock Trading Down 7.6%

The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.33 and a current ratio of 1.45. The stock has a market capitalization of $1.01 billion, a PE ratio of -37.64 and a beta of 1.19. The stock has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $13.28.

Babcock (NYSE:BW) last released its earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. The company had revenue of $319.72 million during the quarter, compared to analyst estimates of $196.95 million. As a group, equities analysts forecast that Babcock will post 0.27 earnings per share for the current year.

Insiders Place Their Bets

In other Babcock news, Director Philip Moeller purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. This represents a 2.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank grew its position in shares of 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 purchasing an additional 4,000 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Babcock during the 4th quarter valued at approximately $25,000. Integrated Wealth Concepts LLC purchased a new position in Babcock during the 2nd quarter valued at approximately $25,000. Royal Bank of Canada increased its stake in Babcock by 57.3% in the 1st quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock worth $26,000 after acquiring an additional 650 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new stake in Babcock in the 1st quarter worth approximately $162,000. 83.17% of the stock is currently owned by institutional investors.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is an energy and environmental technology company that provides equipment, technologies and services for power generation and industrial applications. The company serves utilities, industrial operators and other customers seeking to generate energy, improve operating efficiency and reduce emissions.

Its offerings include steam generation systems, boilers, replacement parts, maintenance and engineering services, as well as technologies for controlling air pollution and managing solid waste.