Babcock (NYSE:BW) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Babcock's stock price has recently surpassed its 200-day moving average of $1.14, peaking at $2.99 during trading, and closing at $2.77 with significant volume of 2,422,624 shares.
• Wall Street analysts have mixed ratings for Babcock, with one upgrading to a strong-buy while another downgraded to sell, leading to an average rating of buy and a consensus price target of $3.00.
• Insider transactions indicate confidence as CEO Kenneth M. Young and CFO Cameron M. Frymyer each acquired significant shares of Babcock's stock recently, increasing their positions by 8.27% and 14.95%, respectively.

Babcock (NYSE:BW - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.14 and traded as high as $2.99. Babcock shares last traded at $2.77, with a volume of 2,422,624 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BW. Craig Hallum upgraded shares of Babcock from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Wall Street Zen downgraded shares of Babcock from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $3.00.

Babcock Price Performance

The stock has a market cap of $279.54 million, a price-to-earnings ratio of -1.63 and a beta of 1.83. The business's fifty day simple moving average is $1.89 and its 200 day simple moving average is $1.14.

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

Insider Buying and Selling at Babcock

In related news, CEO Kenneth M. Young acquired 20,000 shares of Babcock stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average price of $1.51 per share, with a total value of $30,200.00. Following the completion of the acquisition, the chief executive officer directly owned 261,745 shares of the company's stock, valued at $395,234.95. This trade represents a 8.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cameron M. Frymyer acquired 20,000 shares of Babcock stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost 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 trade represents a 14.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 59,347 shares of company stock valued at $99,803. Corporate insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Babcock

Several institutional investors have recently bought and sold shares of BW. Northern Trust Corp raised its position in Babcock by 13.8% in the fourth quarter. Northern Trust Corp now owns 146,996 shares of the technology company's stock worth $241,000 after acquiring an additional 17,860 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Babcock in the fourth quarter worth about $27,000. Bank of America Corp DE raised its position in 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 in the last quarter. Two Sigma Investments LP raised its position in Babcock by 181.1% in the fourth quarter. Two Sigma Investments LP now owns 97,155 shares of the technology company's stock worth $159,000 after acquiring an additional 62,598 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in Babcock by 106.7% in the fourth quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company's stock worth $44,000 after acquiring an additional 13,800 shares in the last quarter. Institutional investors and hedge funds own 83.17% of the company's stock.

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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