Babcock (NYSE:BW) Shares Pass Above 200-Day Moving Average – Time to Sell?

Babcock (NYSE:BW)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.35 and traded as high as $6.59. Babcock shares last traded at $6.4550, with a volume of 2,134,975 shares trading hands.

Analyst Upgrades and Downgrades

BW has been the topic of several research reports. Lake Street Capital reiterated a “buy” rating and issued a $9.00 price target on shares of Babcock in a research note on Wednesday, November 5th. Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. DA Davidson raised their price objective on Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. Finally, Craig Hallum raised Babcock from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.33.

Babcock Price Performance

The business has a 50-day simple moving average of $5.72 and a 200 day simple moving average of $3.35. The firm has a market cap of $717.15 million, a PE ratio of -4.97 and a beta of 1.43.

Babcock (NYSE:BW) last released 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 business had revenue of $149.00 million during the quarter, compared to the consensus estimate of $155.57 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BW. Centiva Capital LP purchased a new stake in shares of Babcock during the 3rd quarter valued at about $31,000. Raymond James Financial Inc. raised its position in Babcock by 11,311.3% during the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after purchasing an additional 11,990 shares during the period. Sender Co & Partners Inc. purchased a new stake in Babcock during the third quarter valued at approximately $50,000. Platform Technology Partners bought a new stake in shares of Babcock in the 3rd quarter valued at approximately $54,000. Finally, Kathmere Capital Management LLC purchased a new position in shares of Babcock in the 3rd quarter worth approximately $58,000. 83.17% of the stock is currently owned by institutional investors.

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.