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

Key Points

• Babcock's stock price recently surpassed its 200-day moving average of $0.91, reaching a high of $1.81, although it last traded at $1.66.
• Following a disappointing quarterly earnings report, analysts at Wall Street Zen downgraded Babcock's stock from a "hold" rating to a "sell" rating.
• Institutional investors currently hold 83.17% of Babcock's stock, with notable increases in ownership from firms like JPMorgan Chase & Co. and Barclays PLC.

Babcock (NYSE:BW - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.91 and traded as high as $1.81. Babcock shares last traded at $1.66, with a volume of 3,350,989 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Babcock from a "hold" rating to a "sell" rating in a research report on Saturday.

Babcock Trading Down 6.8%

The stock has a market cap of $158.22 million, a price-to-earnings ratio of -0.92 and a beta of 1.72. The stock's 50-day moving average price is $1.10 and its 200-day moving average price is $0.91.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02). The firm had revenue of $144.10 million for the quarter, compared to analysts' expectations of $182.07 million.

Institutional Trading of Babcock

Hedge funds have recently modified their holdings of the stock. Northern Trust Corp increased its stake in Babcock by 13.8% during the 4th quarter. Northern Trust Corp now owns 146,996 shares of the technology company's stock valued at $241,000 after purchasing an additional 17,860 shares in the last quarter. Barclays PLC increased its stake in Babcock by 195.7% during the 4th quarter. Barclays PLC now owns 95,539 shares of the technology company's stock valued at $156,000 after purchasing an additional 63,228 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Babcock during the 4th quarter valued at $60,000. Raymond James Financial Inc. bought a new stake in Babcock during the 4th quarter valued at $46,000. Finally, JPMorgan Chase & Co. increased its stake 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 purchasing an additional 343,613 shares in the last quarter. Institutional investors own 83.17% of the company's stock.

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.