Babcock (NYSE:BW) Sees Large Volume Increase – Still a Buy?

Shares of Babcock (NYSE:BW) saw unusually-high trading volume on Friday . Approximately 2,927,295 shares were traded during trading, a decline of 21% from the previous session’s volume of 3,693,928 shares.The stock last traded at $11.1380 and had previously closed at $13.05.

Analysts Set New Price Targets

BW has been the topic of a number of recent research reports. Zacks Research raised shares of Babcock to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, January 21st. Finally, Northland Securities started coverage on Babcock in a research note on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Babcock presently has an average rating of “Hold” and an average price target of $8.00.

Babcock Trading Down 19.4%

The firm has a market capitalization of $1.17 billion, a P/E ratio of -19.47 and a beta of 1.54. The stock’s 50-day simple moving average is $9.59 and its 200-day simple moving average is $6.20.

Babcock (NYSE:BW) last posted its earnings results on Wednesday, March 4th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $161.00 million for the quarter, compared to analysts’ expectations of $179.10 million.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Babcock

A number of hedge funds have recently made changes to their positions in BW. Mariner LLC boosted its stake in Babcock by 10.8% in the fourth quarter. Mariner LLC now owns 16,608 shares of the technology company’s stock valued at $105,000 after acquiring an additional 1,620 shares during the last quarter. Huntington National Bank increased its stake in shares of Babcock by 400,000.0% during the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after purchasing an additional 4,000 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Babcock by 29.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 19,400 shares of the technology company’s stock worth $123,000 after purchasing an additional 4,400 shares during the period. State of Wyoming raised its holdings in shares of Babcock by 88.7% in the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,936 shares during the period. Finally, Centiva Capital LP purchased a new position in Babcock in the third quarter valued at approximately $31,000. 83.17% of the stock is currently owned by institutional investors.

Babcock Company Profile

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.