Babcock (NYSE:BW) CEO Acquires $20,002.58 in Stock

Key Points

• Babcock CEO Kenneth Young acquired $20,002.58 worth of stock by purchasing 9,347 shares at an average price of $2.14 each, increasing his ownership by 3.57%.
• The company's stock has shown significant fluctuations, with a 12-month low of $0.22 and a high of $2.99, and currently trades at $2.19.
• Babcock reported earnings of ($0.10) per share for its last quarter, missing estimates by $0.02, alongside a revenue of $144.10 million against an expected $182.07 million.

Babcock (NYSE:BW - Get Free Report) CEO Kenneth Young acquired 9,347 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average price of $2.14 per share, with a total value of $20,002.58. Following the completion of the acquisition, the chief executive officer directly owned 271,092 shares of the company's stock, valued at $580,136.88. This represents a 3.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Babcock Stock Performance

BW traded up $0.06 on Monday, hitting $2.19. The company had a trading volume of 557,303 shares, compared to its average volume of 1,775,299. The stock has a fifty day moving average price of $1.36 and a 200-day moving average price of $0.96. Babcock has a 12-month low of $0.22 and a 12-month high of $2.99. The stock has a market capitalization of $220.90 million, a price-to-earnings ratio of -1.29 and a beta of 1.81.

Babcock (NYSE:BW - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02). The firm had revenue of $144.10 million during the quarter, compared to analyst estimates of $182.07 million.

Institutional Trading of Babcock

Institutional investors have recently modified their holdings of the business. Gendell Jeffrey L boosted its position in Babcock by 49.2% during the second quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company's stock worth $2,477,000 after purchasing an additional 849,602 shares in the last quarter. Acadian Asset Management LLC boosted its position in Babcock by 13.6% during the first quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company's stock worth $1,333,000 after purchasing an additional 237,797 shares in the last quarter. Marshall Wace LLP boosted its position in Babcock by 93.0% during the second quarter. Marshall Wace LLP now owns 395,945 shares of the technology company's stock worth $380,000 after purchasing an additional 190,814 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Babcock in the fourth quarter worth $239,000. Finally, Bank of America Corp DE raised its holdings in shares of Babcock by 62.8% in the fourth quarter. Bank of America Corp DE now owns 319,495 shares of the technology company's stock worth $524,000 after acquiring an additional 123,194 shares during the last quarter. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BW. Wall Street Zen cut Babcock from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Craig Hallum upgraded Babcock from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $3.00.

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.

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