Babcock (NYSE:BW) Trading Up 3.8% – Should You Buy?

Shares of Babcock (NYSE:BW) were up 3.8% during trading on Tuesday . The company traded as high as $5.82 and last traded at $5.7530. Approximately 378,092 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,392,710 shares. The stock had previously closed at $5.54.

Analyst Upgrades and Downgrades

Several research analysts have commented on BW shares. DA Davidson upped their price objective on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Craig Hallum raised shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, November 5th. Wall Street Zen upgraded shares of Babcock from a “sell” rating to a “hold” rating in a 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 research report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research report 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 company’s stock. Based on data from MarketBeat, Babcock presently has a consensus rating of “Hold” and an average price target of $7.33.

Babcock Stock Performance

The company has a market capitalization of $669.38 million, a P/E ratio of -4.62 and a beta of 1.37. The stock has a fifty day moving average of $5.35 and a 200 day moving average of $3.12.

Babcock (NYSE:BW) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $149.00 million during the quarter, compared to the consensus estimate of $155.57 million.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BW. Centiva Capital LP acquired a new position in shares of Babcock in the 3rd quarter valued at $31,000. Raymond James Financial Inc. lifted its holdings in shares of Babcock by 11,311.3% during the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after purchasing an additional 11,990 shares during the period. Sender Co & Partners Inc. purchased a new stake in Babcock in the third quarter valued at approximately $50,000. Platform Technology Partners acquired a new position in Babcock in the 3rd quarter worth approximately $54,000. Finally, Kathmere Capital Management LLC acquired a new position in Babcock in the 3rd quarter worth approximately $58,000. 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.