Babcock (NYSE:BW) Shares Gap Up – Here’s What Happened

Babcock (NYSE:BW)’s share price gapped up before the market opened on Monday . The stock had previously closed at $7.16, but opened at $7.68. Babcock shares last traded at $7.43, with a volume of 846,562 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BW shares. Needham & Company LLC assumed coverage on shares of Babcock in a research report on Monday. They issued a “buy” rating and a $20.00 target price for the company. Wall Street Zen cut Babcock from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Northland Securities set a $23.00 price target on Babcock in a research note on Tuesday, May 12th. Finally, Weiss Ratings raised Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Babcock has an average rating of “Hold” and an average target price of $15.40.

Babcock Stock Performance

The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 4.21. The company has a market cap of $1.02 billion, a PE ratio of -38.05 and a beta of 1.22. The business’s fifty day moving average is $10.14 and its 200-day moving average is $13.50.

Babcock (NYSE:BW) last announced its earnings results on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $319.69 million during the quarter, compared to analysts’ expectations of $196.95 million. As a group, research analysts predict that Babcock will post 0.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Philip D. Moeller acquired 5,000 shares of Babcock stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director directly owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. This trade represents a 2.12% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Babcock

A number of hedge funds and other institutional investors have recently bought and sold shares of BW. California State Teachers Retirement System bought a new position in shares of Babcock in the second quarter worth about $25,159,000. Readystate Asset Management LP bought a new position in shares of Babcock during the 2nd quarter valued at approximately $1,900,000. Situational Awareness LP grew its stake in shares of Babcock by 49.7% during the 2nd quarter. Situational Awareness LP now owns 2,027,451 shares of the technology company’s stock valued at $28,587,000 after acquiring an additional 673,551 shares during the period. Sigma Planning Corp purchased a new stake in Babcock in the 2nd quarter worth approximately $462,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Babcock in the 2nd quarter worth approximately $8,636,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Babcock Company Profile

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.