Babcock (NYSE:BW) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Babcock (NYSE:BW)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Analyst Upgrades and Downgrades

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

Babcock Trading Up 5.4%

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

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

Insiders Place Their Bets

In other news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were 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 is available at the SEC website. Also, CEO Kenneth M. Young purchased 7,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average price of $15.14 per share, with a total value of $105,980.00. Following the transaction, the chief executive officer directly 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. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mariner LLC increased its stake in shares of Babcock by 10.8% in the fourth quarter. Mariner LLC now owns 16,608 shares of the technology company’s stock valued at $105,000 after purchasing an additional 1,620 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of Babcock during the fourth quarter worth approximately $25,000. Huntington National Bank boosted its position in shares of Babcock by 400,000.0% during the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after buying an additional 4,000 shares during the period. Janney Montgomery Scott LLC grew its holdings in Babcock by 29.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 19,400 shares of the technology company’s stock worth $123,000 after buying an additional 4,400 shares in the last quarter. Finally, State of Wyoming grew its holdings in Babcock by 88.7% in the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock worth $67,000 after buying an additional 4,936 shares in the last quarter. Institutional investors own 83.17% of the company’s stock.

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.