Short Interest in BigCommerce Holdings, Inc. (NASDAQ:BIGC) Decreases By 12.8%

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 6,520,000 shares, a decline of 12.8% from the November 30th total of 7,480,000 shares. Based on an average daily trading volume, of 995,100 shares, the short-interest ratio is currently 6.6 days. Approximately 10.3% of the shares of the company are short sold.

Institutional Trading of BigCommerce

A number of institutional investors have recently added to or reduced their stakes in BIGC. Canada Pension Plan Investment Board bought a new position in shares of BigCommerce during the 2nd quarter valued at $35,000. Virtu Financial LLC acquired a new position in BigCommerce during the third quarter worth $61,000. HighTower Advisors LLC raised its holdings in BigCommerce by 16.8% during the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after buying an additional 2,200 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position 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 buying an additional 8,297 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of BigCommerce in the third quarter worth about $105,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of BigCommerce in a report on Monday, December 9th. Stifel Nicolaus reduced their price target on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, Barclays increased their price objective on shares of BigCommerce from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.44.

BigCommerce Stock Down 1.1 %

NASDAQ BIGC traded down $0.07 on Tuesday, reaching $6.12. The stock had a trading volume of 597,177 shares, compared to its average volume of 817,732. The company has a market capitalization of $479.69 million, a price-to-earnings ratio of -17.00 and a beta of 1.15. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. BigCommerce has a 1 year low of $5.13 and a 1 year high of $9.61. The business has a 50 day moving average price of $6.44 and a 200 day moving average price of $6.55.

About BigCommerce

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.