Babcock (NYSE:BW) Upgraded at Craig Hallum

Key Points

• Babcock (NYSE:BW) received an upgrade from Craig Hallum, increasing its rating from "hold" to a "strong-buy".
• Despite the upgrade, Wall Street Zen downgraded Babcock to a "sell," indicating mixed analyst sentiments with a consensus rating of "Buy" and a price target of $3.00.
• Recent insider transactions show significant purchases by CFO Cameron M. Frymyer and CEO Kenneth M. Young, suggesting confidence in the company's future, as insiders currently own 3.90% of the stock.

Craig Hallum upgraded shares of Babcock (NYSE:BW - Free Report) from a hold rating to a strong-buy rating in a research note released on Thursday, August 21st,Zacks.com reports.

Separately, Wall Street Zen cut shares of Babcock from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Babcock has an average rating of "Buy" and an average target price of $3.00.

Babcock Stock Up 1.4%

BW traded up $0.03 during trading on Thursday, hitting $1.87. The company's stock had a trading volume of 614,997 shares, compared to its average volume of 1,708,736. Babcock has a one year low of $0.22 and a one year high of $2.99. The firm has a market cap of $188.55 million, a PE ratio of -1.10 and a beta of 1.72. The business's 50 day simple moving average is $1.18 and its 200-day simple moving average is $0.92.

Babcock (NYSE:BW - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The technology company reported ($0.10) earnings per share 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 analyst estimates of $182.07 million.

Insider Buying and Selling at Babcock

In related news, CEO Kenneth M. Young bought 20,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost 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 approximately $395,234.95. The trade was a 8.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Cameron M. Frymyer bought 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $1.55 per share, with a total value of $31,000.00. Following the completion of the purchase, the chief financial officer directly owned 153,805 shares of the company's stock, valued at $238,397.75. This represents a 14.95% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Babcock

A number of institutional investors and hedge funds have recently made changes to their positions in BW. BNP Paribas Financial Markets purchased a new position in shares of Babcock in the 4th quarter worth $27,000. Boothbay Fund Management LLC purchased a new position in shares of Babcock in the 4th quarter worth $38,000. Two Sigma Advisers LP grew its stake in shares of Babcock by 106.7% in the 4th quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company's stock worth $44,000 after buying an additional 13,800 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Babcock in the 4th quarter worth $46,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Babcock in the 4th quarter worth $57,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

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.