BigCommerce Holdings, Inc. (NASDAQ:BIGC) Sees Significant Growth in Short Interest

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 8,610,000 shares, an increase of 5.9% from the October 15th total of 8,130,000 shares. Based on an average daily volume of 994,000 shares, the days-to-cover ratio is presently 8.7 days. Approximately 13.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BIGC. Bank of America reduced their price target on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, August 29th. Stifel Nicolaus reduced their target price on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Barclays decreased their price target on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BigCommerce has a consensus rating of “Hold” and an average price target of $8.81.

BigCommerce Stock Down 2.1 %

NASDAQ BIGC traded down $0.13 during midday trading on Friday, hitting $6.05. 1,279,518 shares of the company traded hands, compared to its average volume of 857,099. The company has a market cap of $474.20 million, a PE ratio of -16.81 and a beta of 0.99. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. BigCommerce has a 52 week low of $5.13 and a 52 week high of $10.19. The company’s 50-day simple moving average is $5.76 and its 200-day simple moving average is $6.72.

Hedge Funds Weigh In On BigCommerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of BigCommerce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock valued at $9,363,000 after buying an additional 21,105 shares in the last quarter. Barclays PLC lifted its position in BigCommerce by 154.9% during the third quarter. Barclays PLC now owns 116,667 shares of the company’s stock valued at $682,000 after acquiring an additional 70,902 shares during the last quarter. Jane Street Group LLC boosted its stake in BigCommerce by 88.2% in the third quarter. Jane Street Group LLC now owns 206,265 shares of the company’s stock valued at $1,207,000 after acquiring an additional 96,667 shares in the last quarter. State Street Corp grew its holdings in BigCommerce by 1.1% in the third quarter. State Street Corp now owns 1,522,002 shares of the company’s stock worth $8,904,000 after purchasing an additional 16,561 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of BigCommerce during the third quarter worth $105,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.