Covestor Ltd Purchases Shares of 139,865 Babcock $BW

Covestor Ltd acquired a new position in shares of Babcock (NYSE:BW) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 139,865 shares of the technology company’s stock, valued at approximately $406,000. Covestor Ltd owned approximately 0.14% of Babcock as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI bought a new stake in shares of Babcock in the third quarter worth $1,160,000. Thames Capital Management LLC acquired a new stake in Babcock in the 3rd quarter valued at $4,033,000. AMH Equity Ltd bought a new stake in Babcock during the 3rd quarter worth about $2,042,000. Gendell Jeffrey L boosted its stake in shares of Babcock by 49.2% during the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock worth $2,477,000 after buying an additional 849,602 shares during the last quarter. Finally, Quinn Opportunity Partners LLC grew its holdings in shares of Babcock by 200.0% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock valued at $87,000 after acquiring an additional 60,000 shares in the last quarter. Institutional investors own 83.17% of the company’s stock.

Babcock Price Performance

BW stock opened at $8.24 on Thursday. Babcock has a one year low of $0.22 and a one year high of $8.83. The stock has a market cap of $915.46 million, a price-to-earnings ratio of -6.34 and a beta of 1.43. The company has a fifty day moving average price of $6.40 and a two-hundred day moving average price of $3.87.

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

Analysts Set New Price Targets

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

Babcock 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.