BigBear.ai (NYSE:BBAI) Shares Up 6.5% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) shot up 6.5% on Friday . The stock traded as high as $2.31 and last traded at $2.29. 3,914,630 shares were traded during mid-day trading, a decline of 44% from the average session volume of 6,931,219 shares. The stock had previously closed at $2.15.

Analyst Upgrades and Downgrades

BBAI has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of BigBear.ai in a research report on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.50 target price on shares of BigBear.ai in a research note on Wednesday, November 6th.

BigBear.ai Stock Performance

The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock has a market cap of $568.84 million, a price-to-earnings ratio of -2.54 and a beta of 3.46. The stock’s fifty day moving average is $1.73 and its 200-day moving average is $1.56.

BigBear.ai (NYSE:BBAI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The firm’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. On average, analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insiders Place Their Bets

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of BigBear.ai stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total value of $1,019,614.26. Following the transaction, the director now owns 143,713,297 shares of the company’s stock, valued at approximately $255,809,668.66. The trade was a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its holdings in BigBear.ai by 6,435.7% during the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock worth $1,006,000 after purchasing an additional 643,570 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of BigBear.ai by 28.6% during the third quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock worth $3,152,000 after buying an additional 479,401 shares in the last quarter. State Street Corp raised its position in BigBear.ai by 16.8% in the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock valued at $2,723,000 after buying an additional 267,673 shares during the last quarter. Bank of New York Mellon Corp raised its position in BigBear.ai by 160.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company’s stock valued at $465,000 after buying an additional 189,593 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in BigBear.ai by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 2,062,356 shares of the company’s stock valued at $4,228,000 after acquiring an additional 168,076 shares in the last quarter. 7.55% of the stock is currently owned by institutional investors and hedge funds.

About BigBear.ai

BigBear.ai Holdings, Inc provides artificial intelligence-powered decision intelligence solutions. It offers national security, supply chain management, and digital identity and biometrics solutions. The company also provides data ingestion, data enrichment, data processing, artificial intelligence, machine learning, predictive analytics, and predictive visualization solutions and services.