Babcock (NYSE:BW) Stock Passes Above 200 Day Moving Average – What’s Next?

Babcock (NYSE:BW)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.97 and traded as high as $2.29. Babcock shares last traded at $2.14, with a volume of 1,712,946 shares.

Wall Street Analyst Weigh In

BW has been the topic of a number of research reports. Wall Street Zen lowered shares of Babcock from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Craig Hallum raised Babcock from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Babcock has a consensus rating of “Buy” and an average price target of $3.00.

Babcock Stock Performance

The firm’s 50-day moving average price is $1.36 and its two-hundred day moving average price is $0.97. The stock has a market cap of $215.85 million, a price-to-earnings ratio of -1.26 and a beta of 1.83.

Babcock (NYSE:BW) last issued its quarterly earnings data on Monday, August 11th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The company had revenue of $144.10 million for the quarter, compared to analysts’ expectations of $182.07 million.

Insider Activity at Babcock

In other news, CFO Cameron M. Frymyer acquired 20,000 shares of Babcock stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $1.55 per share, for a total transaction of $31,000.00. Following the completion of the purchase, the chief financial officer owned 153,805 shares in the company, valued at $238,397.75. This represents a 14.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth M. Young purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average price of $1.51 per share, with a total value of $30,200.00. Following the purchase, the chief executive officer owned 261,745 shares in the company, valued at $395,234.95. This trade represents a 8.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 50,000 shares of company stock valued at $79,800 in the last quarter. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Babcock

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new stake in Babcock during the 4th quarter valued at approximately $27,000. Two Sigma Advisers LP increased its holdings in shares of Babcock by 106.7% in the fourth quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company’s stock valued at $44,000 after purchasing an additional 13,800 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Babcock during the fourth quarter worth approximately $46,000. Dimensional Fund Advisors LP acquired a new stake in shares of Babcock during the fourth quarter worth $57,000. Finally, Balyasny Asset Management L.P. purchased a new position in Babcock in the 4th quarter valued at $60,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

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.