Babcock (NYSE:BW) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Babcock (NYSE:BW)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.37 and traded as high as $15.93. Babcock shares last traded at $15.7840, with a volume of 3,137,919 shares.

Wall Street Analysts Forecast Growth

BW has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a report on Wednesday, January 21st. Zacks Research raised shares of Babcock to a “hold” rating in a research report on Friday, January 23rd. Northland Securities assumed coverage on shares of Babcock in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 target price on the stock. Wall Street Zen upgraded shares of Babcock from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Finally, Craig Hallum reaffirmed a “buy” rating and set a $19.00 price target on shares of Babcock in a research report on Tuesday, March 17th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Babcock has an average rating of “Hold” and an average price target of $11.00.

Babcock Price Performance

The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -29.23 and a beta of 1.09. The business’s 50-day moving average price is $11.49 and its 200 day moving average price is $7.37.

Babcock (NYSE:BW) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $161.00 million for the quarter, compared to analyst estimates of $179.10 million.

Insider Activity

In other news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $9.00, for a total transaction of $10,398,438.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth M. Young bought 7,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $15.14 per share, for a total transaction of $105,980.00. Following the completion of the transaction, the chief executive officer owned 1,656,512 shares of the company’s stock, valued at approximately $25,079,591.68. The trade was a 0.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Babcock

A number of institutional investors have recently made changes to their positions in BW. Legal & General Group Plc grew its position in shares of Babcock by 10.8% during the fourth quarter. Legal & General Group Plc now owns 5,380,991 shares of the technology company’s stock worth $34,115,000 after buying an additional 523,776 shares in the last quarter. Gendell Jeffrey L raised its holdings in Babcock by 6.2% in the fourth quarter. Gendell Jeffrey L now owns 5,046,068 shares of the technology company’s stock valued at $31,992,000 after acquiring an additional 293,245 shares in the last quarter. Vanguard Group Inc. boosted its stake in Babcock by 54.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock valued at $12,827,000 after acquiring an additional 1,556,692 shares during the last quarter. Marshall Wace LLP grew its holdings in Babcock by 42.4% during the 4th quarter. Marshall Wace LLP now owns 3,371,134 shares of the technology company’s stock worth $21,373,000 after acquiring an additional 1,004,533 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Babcock by 337.1% in the 4th quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock worth $9,163,000 after purchasing an additional 1,114,593 shares during the last quarter. 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.