BigBear.ai (NYSE:BBAI) Trading Down 16.4% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price traded down 16.4% during mid-day trading on Thursday . The company traded as low as $3.19 and last traded at $3.31. 47,996,865 shares traded hands during mid-day trading, an increase of 12% from the average session volume of 42,807,543 shares. The stock had previously closed at $3.96.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a report on Wednesday, November 6th. HC Wainwright upped their target price on shares of BigBear.ai from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, December 30th.

BigBear.ai Trading Down 16.4 %

The stock has a market cap of $829.44 million, a price-to-earnings ratio of -3.64 and a beta of 3.21. The business’s 50 day moving average is $2.79 and its 200 day moving average is $1.96. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06.

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

Insider Transactions at BigBear.ai

In other BigBear.ai news, CEO Amanda Long sold 66,140 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.50, for a total value of $297,630.00. Following the completion of the sale, the chief executive officer now owns 2,445,449 shares in the company, valued at approximately $11,004,520.50. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total transaction 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. This trade represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 849,032 shares of company stock worth $2,184,876. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BigBear.ai

Institutional investors have recently added to or reduced their stakes in the stock. Sovereign Financial Group Inc. purchased a new position in BigBear.ai in the 3rd quarter valued at $36,000. XTX Topco Ltd purchased a new stake in shares of BigBear.ai during the 2nd quarter worth $58,000. Intech Investment Management LLC acquired a new position in shares of BigBear.ai during the 3rd quarter worth $61,000. The Manufacturers Life Insurance Company boosted its holdings in BigBear.ai by 135.0% during the second quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock worth $62,000 after buying an additional 23,597 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new position in BigBear.ai during the third quarter worth about $131,000. Institutional investors and hedge funds own 7.55% of the company’s stock.

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.