Babcock (NYSE:BW) Stock Price Down 6.9% – Should You Sell?

Babcock (NYSE:BW)’s share price was down 6.9% during trading on Tuesday . The company traded as low as $5.13 and last traded at $5.15. Approximately 1,928,428 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 2,398,812 shares. The stock had previously closed at $5.53.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BW. Wall Street Zen upgraded Babcock from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Lake Street Capital reaffirmed a “buy” rating and set a $9.00 price objective on shares of Babcock in a report on Wednesday, November 5th. DA Davidson lifted their target price on shares of Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Craig Hallum upgraded shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.33.

Babcock Trading Down 7.6%

The company has a fifty day simple moving average of $5.04 and a 200-day simple moving average of $2.83. The company has a market capitalization of $567.39 million, a PE ratio of -3.93 and a beta of 1.37.

Babcock (NYSE:BW) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $149.00 million during the quarter, compared to analysts’ expectations of $155.57 million.

Institutional Investors Weigh In On Babcock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its stake in shares of Babcock by 13.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock valued at $1,333,000 after acquiring an additional 237,797 shares during the period. Gendell Jeffrey L increased its holdings in Babcock by 49.2% in the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock valued at $2,477,000 after purchasing an additional 849,602 shares during the last quarter. Quinn Opportunity Partners LLC raised its position in Babcock by 200.0% in the second quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock valued at $87,000 after purchasing an additional 60,000 shares during the period. Brightline Capital Management LLC lifted its stake in Babcock by 2.6% during the first quarter. Brightline Capital Management LLC now owns 1,550,000 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Babcock by 1.3% during the first quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company’s stock worth $1,160,000 after buying an additional 22,452 shares during the period. Institutional investors and hedge funds 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.