Babcock (NYSE:BW) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in shares of Babcock (NYSE:BW) by 10.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 655,524 shares of the technology company’s stock after selling 74,362 shares during the period. Assenagon Asset Management S.A. owned approximately 0.67% of Babcock worth $441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CastleKnight Management LP increased its holdings in Babcock by 7.2% in the fourth quarter. CastleKnight Management LP now owns 7,213,690 shares of the technology company’s stock valued at $11,830,000 after buying an additional 487,516 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Babcock by 28.1% in the fourth quarter. Russell Investments Group Ltd. now owns 1,702,261 shares of the technology company’s stock valued at $2,792,000 after buying an additional 373,049 shares in the last quarter. Brightline Capital Management LLC purchased a new position in Babcock in the fourth quarter valued at $2,476,000. Heartland Advisors Inc. increased its holdings in Babcock by 4.5% in the fourth quarter. Heartland Advisors Inc. now owns 1,373,500 shares of the technology company’s stock valued at $2,253,000 after buying an additional 58,800 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Babcock by 809.8% in the fourth quarter. Marshall Wace LLP now owns 484,903 shares of the technology company’s stock valued at $795,000 after buying an additional 431,604 shares in the last quarter. 83.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on BW. Lake Street Capital cut their target price on shares of Babcock from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. DA Davidson cut shares of Babcock from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Finally, Wall Street Zen initiated coverage on shares of Babcock in a research note on Tuesday, May 20th. They set a “hold” rating for the company.

Babcock Stock Down 1.9%

BW stock opened at $0.96 on Friday. Babcock has a 52 week low of $0.22 and a 52 week high of $2.99. The stock has a market capitalization of $94.07 million, a P/E ratio of -1.15 and a beta of 1.61. The firm has a 50-day simple moving average of $0.69 and a 200-day simple moving average of $1.07.

Babcock (NYSE:BW) last announced its quarterly earnings data on Monday, March 31st. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The company had revenue of $200.80 million for the quarter, compared to the consensus estimate of $213.07 million.

Babcock Profile

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.