BigBear.ai (NYSE:BBAI) Shares Up 9.1% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) shot up 9.1% during mid-day trading on Thursday . The company traded as high as $4.21 and last traded at $4.07. 38,057,001 shares traded hands during mid-day trading, an increase of 266% from the average session volume of 10,397,423 shares. The stock had previously closed at $3.73.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BBAI shares. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of BigBear.ai in a research note on Wednesday, November 6th. Cantor Fitzgerald restated an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Price Performance

The business has a fifty day moving average price of $2.28 and a 200 day moving average price of $1.75. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.65 and a beta of 3.58.

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

Insider Buying and Selling at BigBear.ai

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 in the company, valued at approximately $255,809,668.66. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BigBear.ai

Large investors have recently modified their holdings of the stock. Bank of Montreal Can lifted its holdings in shares of BigBear.ai by 6,435.7% during the second quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock valued at $1,006,000 after purchasing an additional 643,570 shares during the last quarter. Geode Capital Management LLC raised 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 valued at $3,152,000 after acquiring an additional 479,401 shares during the period. State Street Corp lifted its position in shares of 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 acquiring an additional 267,673 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of BigBear.ai by 160.5% in the second quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company’s stock valued at $465,000 after purchasing an additional 189,593 shares in the last quarter. Finally, Barclays PLC boosted its position in BigBear.ai by 310.3% during the 3rd quarter. Barclays PLC now owns 141,766 shares of the company’s stock worth $208,000 after acquiring an additional 107,214 shares during the period. 7.55% of the stock is owned by institutional investors.

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.