Short Interest in BigCommerce Holdings, Inc. (NASDAQ:BIGC) Drops By 14.6%

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 5,570,000 shares, a decline of 14.6% from the December 15th total of 6,520,000 shares. Based on an average daily volume of 901,100 shares, the days-to-cover ratio is presently 6.2 days. Approximately 8.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On BigCommerce

Several large investors have recently modified their holdings of BIGC. Canada Pension Plan Investment Board bought a new stake in BigCommerce in the second quarter worth $35,000. Virtu Financial LLC bought a new position in BigCommerce during the third quarter valued at $61,000. HighTower Advisors LLC raised its stake in shares of BigCommerce by 16.8% in the third 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. lifted its holdings in shares of BigCommerce by 93.4% in the 3rd 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 last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of BigCommerce during the 3rd quarter worth about $105,000. Institutional investors own 79.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stifel Nicolaus cut their price objective on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of BigCommerce in a report on Monday, December 9th. Finally, Barclays cut BigCommerce from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $8.00 to $7.00 in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, BigCommerce presently has an average rating of “Hold” and an average target price of $8.31.

BigCommerce Trading Down 0.2 %

NASDAQ BIGC traded down $0.01 during trading hours on Friday, hitting $6.13. 538,604 shares of the company were exchanged, compared to its average volume of 728,500. BigCommerce has a 52 week low of $5.13 and a 52 week high of $8.98. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The stock has a 50-day moving average price of $6.64 and a 200 day moving average price of $6.42. The stock has a market cap of $480.47 million, a PE ratio of -17.03 and a beta of 1.18.

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.