Babcock (NYSE:BW) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Babcock's stock received a "Sell (D-)" rating from Weiss Ratings, indicating ongoing concerns about its performance.
• Despite the negative ratings, Babcock's shares rose 0.7% to $3.46, with a notable trading volume of over 1.2 million shares.
• Recent quarterly earnings showed a loss of ($0.10) EPS, missing projected estimates, and revenue fell short compared to expectations.

Babcock (NYSE:BW - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

A number of other equities research analysts have also recently weighed in on BW. Wall Street Zen cut Babcock from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Craig Hallum raised 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 assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Babcock currently has a consensus rating of "Moderate Buy" and an average target price of $3.00.

Babcock Stock Up 0.7%

Shares of NYSE BW traded up $0.03 during midday trading on Friday, hitting $3.46. The stock had a trading volume of 1,263,877 shares, compared to its average volume of 1,949,707. The company has a market capitalization of $349.30 million, a PE ratio of -2.03 and a beta of 1.87. The stock has a 50 day simple moving average of $2.74 and a 200-day simple moving average of $1.49. Babcock has a 1 year low of $0.22 and a 1 year high of $4.04.

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

Insider Activity

In other news, CFO Cameron M. Frymyer purchased 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $1.55 per share, for a total transaction of $31,000.00. Following the completion of the purchase, the chief financial officer owned 153,805 shares of the company's stock, valued at approximately $238,397.75. This trade represents a 14.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kenneth M. Young bought 20,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was bought at an average price of $1.51 per share, with a total value of $30,200.00. Following the completion of the purchase, the chief executive officer owned 261,745 shares of the company's stock, valued at $395,234.95. This trade represents a 8.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 59,347 shares of company stock worth $99,803 over the last three months. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Babcock

Several hedge funds and other institutional investors have recently made changes to their positions in BW. Citizens Financial Group Inc. RI bought a new stake in Babcock during the third quarter worth approximately $1,160,000. Kathmere Capital Management LLC acquired a new position in shares of Babcock in the third quarter worth $58,000. Global Retirement Partners LLC acquired a new position in shares of Babcock in the third quarter worth $71,000. Shikiar Asset Management Inc. acquired a new position in shares of Babcock in the third quarter worth $138,000. Finally, Nomura Holdings Inc. boosted its holdings in Babcock by 58.2% in the second quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company's stock worth $123,000 after purchasing an additional 46,884 shares in the last quarter. 83.17% of the stock is currently owned by institutional investors and hedge funds.

Babcock Company Profile

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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