Babcock (NYSE:BW) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Babcock (NYSE:BW) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.28 and traded as high as $8.77. Babcock shares last traded at $8.6110, with a volume of 2,214,719 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Craig Hallum upgraded 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a report on Wednesday, January 21st. DA Davidson lifted their target price on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Wall Street Zen upgraded shares of Babcock from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $9.00 price target on shares of Babcock in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.00.

Babcock Stock Performance

The stock has a market cap of $956.68 million, a P/E ratio of -6.62 and a beta of 1.55. The firm’s fifty day simple moving average is $7.97 and its 200-day simple moving average is $5.28.

Insider Buying and Selling at Babcock

In other news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of Babcock stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $9.00, for a total value of $10,398,438.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Babcock

Several institutional investors have recently added to or reduced their stakes in the business. Quinn Opportunity Partners LLC boosted its holdings in shares of Babcock by 200.0% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock worth $87,000 after buying an additional 60,000 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Babcock by 93.0% during the 2nd 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 period. Gendell Jeffrey L boosted its stake in Babcock by 49.2% during the second quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock worth $2,477,000 after acquiring an additional 849,602 shares in the last quarter. Nomura Holdings Inc. boosted its stake in Babcock by 58.2% during the second 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. Finally, Shikiar Asset Management Inc. acquired a new stake in Babcock in the third quarter worth $138,000. 83.17% of the stock is owned by institutional investors and hedge funds.

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.