Babcock (NYSE:BW) Trading Up 7.3% - Still a Buy?
Babcock (NYSE:BW) stock rose 7.3% to $6.32 with 1,333,363 shares traded, down 43% from average volume. Analysts have mixed ratings: Wall Street Zen upgraded to 'hold', Craig Hallum and Lake Street Capital to 'buy', DA Davidson to 'neutral', and Weiss Ratings to 'sell'. The stock has a consensus 'hold' rating with a $7.33 target price. Babcock reported Q3 earnings of ($0.06) per share, beating estimates. Institutional investors own 83.17% of the stock.
Babcock (NYSE:BW - Get Free Report) traded up 7.3% during trading on Wednesday . The company traded as high as $6.20 and last traded at $6.32. 1,333,363 shares changed hands during trading, a decline of 43% from the average session volume of 2,353,552 shares. The stock had previously closed at $5.89.
Analyst Upgrades and Downgrades
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Several equities analysts have issued reports on the company. Wall Street Zen upgraded Babcock from a "sell" rating to a "hold" rating in a research report on Saturday, November 8th. Craig Hallum raised Babcock from a "hold" rating to a "buy" rating and set a $7.00 target price for the company in a research report on Wednesday, November 5th. Lake Street Capital reiterated a "buy" rating and issued a $9.00 price objective on shares of Babcock in a research note on Wednesday, November 5th. DA Davidson lifted their target price on Babcock from $1.50 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Babcock in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Babcock currently has a consensus rating of "Hold" and an average target price of $7.33.
Check Out Our Latest Stock Report on BW
Babcock Trading Up 6.4%
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The firm's fifty day moving average price is $4.17 and its two-hundred day moving average price is $2.30. The stock has a market capitalization of $696.04 million, a PE ratio of -3.71 and a beta of 1.91.
Babcock (NYSE:BW - Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.04. The firm had revenue of $149.00 million during the quarter, compared to analyst estimates of $155.57 million.
Hedge Funds Weigh In On Babcock
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sender Co & Partners Inc. purchased a new position in shares of Babcock during the 3rd quarter worth $50,000. Qube Research & Technologies Ltd acquired a new position in Babcock in the 3rd quarter valued at about $69,000. Centiva Capital LP purchased a new stake in shares of Babcock in the 3rd quarter valued at approximately $31,000. Bank of America Corp DE increased its holdings in shares of Babcock by 3,605.8% during the 3rd quarter. Bank of America Corp DE now owns 25,496 shares of the technology company's stock worth $74,000 after buying an additional 24,808 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Babcock during the third quarter worth $102,000. Institutional investors and hedge funds own 83.17% of the company's stock.
Babcock Company Profile
(Get Free Report)Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.
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