Babcock (NYSE:BW) Shares Down 6.1% – Here’s What Happened

Babcock (NYSE:BW) fell 6.1% on Tuesday . The company traded as low as $7.04 and last traded at $7.0820. Approximately 415,217 shares changed hands during trading, a decline of 90% from the average session volume of 4,067,849 shares. The stock had previously closed at $7.54.

Wall Street Analyst Weigh In

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

Babcock Stock Up 2.8%

The company has a debt-to-equity ratio of 4.21, a current ratio of 1.45 and a quick ratio of 1.33. The company has a market capitalization of $1.05 billion, a P/E ratio of -39.08 and a beta of 1.19. The stock has a 50-day moving average price of $9.99 and a 200-day moving average price of $13.48.

Babcock (NYSE:BW) last announced its earnings results on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $319.69 million for the quarter, compared to analysts’ expectations of $196.95 million. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%. On average, research analysts predict that Babcock will post 0.27 EPS for the current fiscal year.

Insider Activity

In other news, Director Philip D. Moeller acquired 5,000 shares of Babcock stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $9.50 per share, with a total value of $47,500.00. Following the purchase, the director owned 240,809 shares in the company, valued at $2,287,685.50. This trade represents a 2.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Babcock

Hedge funds have recently bought and sold shares of the company. Marshall Wace LLP boosted its position in Babcock by 93.0% during the second quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock valued at $380,000 after acquiring an additional 190,814 shares during the last quarter. Nomura Holdings Inc. raised its position in shares of Babcock by 58.2% in the 2nd quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock worth $123,000 after acquiring an additional 46,884 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Babcock by 54.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock worth $12,827,000 after acquiring an additional 1,556,692 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Babcock in the 3rd quarter valued at about $74,000. Finally, Legal & General Group Plc bought a new stake in shares of Babcock during the 3rd quarter valued at about $14,086,000. Institutional investors own 83.17% of the company’s stock.

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.