Babcock (NYSE:BW) CFO Acquires $31,000.00 in Stock

Key Points

• Babcock CFO Cameron Frymyer purchased 20,000 shares of the company's stock at an average price of $1.55, increasing his ownership by 14.95% to a total of 153,805 shares.
• The company recently reported a quarterly EPS of ($0.10), missing analysts' expectations and generating revenue of $144.10 million, below the forecast of $182.07 million.
• Babcock's stock has a current trading price of $1.4150, down 3.1%, with a market cap of $143.06 million and a consensus target price from analysts set at $3.00.

Babcock (NYSE:BW - Get Free Report) CFO Cameron M. Frymyer acquired 20,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $1.55 per share, with a total value of $31,000.00. Following the acquisition, the chief financial officer directly owned 153,805 shares of the company's stock, valued at approximately $238,397.75. This represents a 14.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Babcock Stock Up 2.0%

NYSE BW traded up $0.0350 on Monday, hitting $1.7550. 1,293,601 shares of the stock were exchanged, compared to its average volume of 1,714,730. Babcock has a fifty-two week low of $0.2241 and a fifty-two week high of $2.99. The company has a market cap of $177.43 million, a PE ratio of -1.03 and a beta of 1.72. The company has a 50-day moving average price of $1.13 and a 200-day moving average price of $0.91.

Babcock (NYSE:BW - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The business had revenue of $144.10 million for the quarter, compared to the consensus estimate of $182.07 million.

Institutional Trading of Babcock

Several hedge funds have recently made changes to their positions in BW. Gendell Jeffrey L lifted its holdings in shares of 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 buying an additional 849,602 shares during the period. CastleKnight Management LP increased its holdings in Babcock by 7.2% during the 4th quarter. CastleKnight Management LP now owns 7,213,690 shares of the technology company's stock valued at $11,830,000 after acquiring an additional 487,516 shares in the last quarter. Marshall Wace LLP increased its holdings in Babcock by 809.8% during the 4th quarter. Marshall Wace LLP now owns 484,903 shares of the technology company's stock valued at $795,000 after acquiring an additional 431,604 shares in the last quarter. 683 Capital Management LLC purchased a new position in Babcock during the 4th quarter valued at about $667,000. Finally, JPMorgan Chase & Co. increased its holdings in Babcock by 561.4% during the 4th quarter. JPMorgan Chase & Co. now owns 404,821 shares of the technology company's stock valued at $664,000 after acquiring an additional 343,613 shares in the last quarter. Institutional investors and hedge funds own 83.17% of the company's stock.

Analyst Upgrades and Downgrades

BW has been the subject of several research analyst reports. Craig Hallum upgraded shares of Babcock from a "hold" rating to a "strong-buy" rating in a report on Thursday. Wall Street Zen cut Babcock from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Babcock currently has an average rating of "Buy" and an average 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.