Kenneth M. Young Buys 20,000 Shares of Babcock (NYSE:BW) Stock

Key Points

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Babcock (NYSE:BW - Get Free Report) CEO Kenneth M. Young acquired 20,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were bought at an average cost of $1.51 per share, for a total transaction 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 approximately $395,234.95. The trade was a 8.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Babcock Stock Up 7.2%

Shares of BW traded up $0.1150 during trading hours on Friday, reaching $1.7150. 1,671,441 shares of the company traded hands, compared to its average volume of 1,678,277. The stock has a market capitalization of $173.39 million, a P/E ratio of -1.01 and a beta of 1.72. Babcock has a 12-month low of $0.2241 and a 12-month high of $2.99. The business has a fifty day moving average price of $1.13 and a 200-day moving average price of $0.92.

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 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.

Analyst Upgrades and Downgrades

BW has been the subject of a number of research reports. Wall Street Zen downgraded shares of Babcock from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Craig Hallum upgraded shares of Babcock from a "hold" rating to a "strong-buy" rating in a research report on Thursday. One equities research 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 company's stock. According to data from MarketBeat, Babcock presently has a consensus rating of "Buy" and an average price target of $3.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Northern Trust Corp raised its position in shares of 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 during the period. Barclays PLC raised its position in shares of Babcock by 195.7% in the fourth quarter. Barclays PLC now owns 95,539 shares of the technology company's stock worth $156,000 after acquiring an additional 63,228 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Babcock in the fourth quarter worth about $60,000. Raymond James Financial Inc. acquired a new position in shares of Babcock in the fourth quarter worth about $46,000. Finally, JPMorgan Chase & Co. raised its position in shares of Babcock by 561.4% in the fourth quarter. JPMorgan Chase & Co. now owns 404,821 shares of the technology company's stock worth $664,000 after acquiring an additional 343,613 shares during the period. Institutional investors and hedge funds 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.