Babcock (NYSE:BW) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Babcock (NYSE:BW) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.65 and traded as high as $5.95. Babcock shares last traded at $5.7250, with a volume of 4,229,314 shares trading hands.

Analyst Upgrades and Downgrades

BW has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a report on Wednesday, October 8th. DA Davidson increased their price objective on Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Lake Street Capital reissued a “buy” rating and issued a $9.00 price objective on shares of Babcock in a research note on Wednesday, November 5th. Finally, 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 note on Wednesday, November 5th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Babcock currently has an average rating of “Hold” and an average price target of $7.33.

Babcock Stock Up 0.8%

The firm’s 50 day simple moving average is $4.72 and its 200-day simple moving average is $2.65. The company has a market capitalization of $636.05 million, a PE ratio of -4.40 and a beta of 1.37.

Babcock (NYSE:BW) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $149.00 million for the quarter, compared to analysts’ expectations of $155.57 million.

Institutional Investors Weigh In On Babcock

Institutional investors and hedge funds have recently modified their holdings of the stock. Sender Co & Partners Inc. acquired a new position in shares of Babcock in the 3rd quarter valued at about $50,000. Qube Research & Technologies Ltd acquired a new stake in shares of Babcock in the 3rd quarter valued at $69,000. Centiva Capital LP bought a new stake in shares of Babcock during the 3rd quarter worth about $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 valued at $74,000 after acquiring an additional 24,808 shares during the last quarter. Finally, Algert Global LLC bought a new position in shares of Babcock in the 3rd quarter valued at approximately $102,000. 83.17% of the stock is owned by institutional investors and hedge funds.

About Babcock

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.