Insider Buying: Babcock (NYSE:BW) CEO Acquires 20,000 Shares of Stock

Key Points

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Babcock (NYSE:BW - Get Free Report) CEO Kenneth M. Young acquired 20,000 shares of the firm's stock in a transaction dated 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 purchase, the chief executive officer directly owned 261,745 shares in the company, valued at approximately $395,234.95. This trade represents a 8.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Babcock Stock Performance

Shares of BW traded up $0.1150 during midday trading on Friday, hitting $1.7150. The company had a trading volume of 1,671,441 shares, compared to its average volume of 1,678,277. The company's 50-day simple moving average is $1.13 and its 200-day simple moving average is $0.91. The firm has a market capitalization of $173.39 million, a P/E ratio of -1.01 and a beta of 1.72. Babcock has a 1 year low of $0.2241 and a 1 year high of $2.99.

Babcock (NYSE:BW - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $182.07 million.

Institutional Investors Weigh In On Babcock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BW. BNP Paribas Financial Markets purchased a new stake in Babcock in the fourth quarter valued at approximately $27,000. Boothbay Fund Management LLC purchased a new stake in Babcock in the fourth quarter valued at approximately $38,000. Two Sigma Advisers LP lifted its stake in Babcock by 106.7% in the fourth quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company's stock valued at $44,000 after buying an additional 13,800 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Babcock in the fourth quarter valued at approximately $46,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Babcock in the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 83.17% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Craig Hallum upgraded Babcock from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Wall Street Zen cut 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 issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $3.00.

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.