BigCommerce (NASDAQ:BIGC) Trading Down 6.5% – Here’s What Happened

BigCommerce Holdings, Inc. (NASDAQ:BIGCGet Free Report)’s share price fell 6.5% on Thursday . The stock traded as low as $7.19 and last traded at $7.20. 268,674 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 812,502 shares. The stock had previously closed at $7.70.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Stifel Nicolaus lowered their target price on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Barclays lifted their price objective on BigCommerce from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of BigCommerce in a research report on Monday, December 9th. Finally, Bank of America dropped their price target on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, BigCommerce presently has an average rating of “Hold” and an average target price of $8.44.

Read Our Latest Analysis on BIGC

BigCommerce Stock Performance

The company has a market capitalization of $551.80 million, a price-to-earnings ratio of -19.56 and a beta of 1.15. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The company has a 50 day moving average price of $6.30 and a 200 day moving average price of $6.70.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in shares of BigCommerce in the second quarter valued at approximately $35,000. Virtu Financial LLC bought a new stake in BigCommerce during the 3rd quarter valued at $61,000. HighTower Advisors LLC raised its holdings in BigCommerce by 16.8% during the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after acquiring an additional 2,200 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of BigCommerce by 93.4% in the third quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company’s stock worth $100,000 after acquiring an additional 8,297 shares during the period. Finally, Aigen Investment Management LP purchased a new position in shares of BigCommerce in the third quarter valued at $105,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.

About BigCommerce

(Get Free Report)

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.

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