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

Key Points

• Babcock (NYSE:BW) shares have surpassed their 200-day moving average during trading, indicating positive momentum in the stock price, which reached a high of $1.25 and last traded at $1.22.
• Several hedge funds have increased their positions in Babcock, with CastleKnight Management LP leading by boosting its stake by 7.2%, reflecting growing institutional interest in the company.
• Wall Street Zen initiated coverage on Babcock with a "hold" rating, suggesting a cautious outlook on the stock amidst its current trading performance.

Babcock (NYSE:BW - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.91 and traded as high as $1.25. Babcock shares last traded at $1.22, with a volume of 1,285,771 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on shares of Babcock in a research report on Tuesday, May 20th. They set a "hold" rating for the company.

Babcock Trading Up 0.8%

The firm has a 50 day moving average price of $1.05 and a 200-day moving average price of $0.91. The firm has a market cap of $129.89 million, a price-to-earnings ratio of -1.59 and a beta of 1.72.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brightline Capital Management LLC acquired a new position in shares of Babcock in the fourth quarter valued at approximately $2,476,000. CastleKnight Management LP grew its stake in Babcock by 7.2% in the 4th quarter. CastleKnight Management LP now owns 7,213,690 shares of the technology company's stock worth $11,830,000 after acquiring an additional 487,516 shares during the period. Marshall Wace LLP raised its holdings in Babcock by 809.8% in 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 during the last quarter. 683 Capital Management LLC purchased a new position in shares of Babcock during the 4th quarter worth $667,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Babcock by 28.1% during the fourth quarter. Russell Investments Group Ltd. now owns 1,702,261 shares of the technology company's stock worth $2,792,000 after purchasing an additional 373,049 shares during 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.