BigBear.ai (NYSE:BBAI) Shares Up 32.5% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) traded up 32.5% on Wednesday . The company traded as high as $6.46 and last traded at $6.51. 80,906,546 shares were traded during mid-day trading, an increase of 117% from the average session volume of 37,203,715 shares. The stock had previously closed at $4.91.

Analysts Set New Price Targets

A number of analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.50 target price on shares of BigBear.ai in a report on Wednesday, November 6th. HC Wainwright boosted their target price on shares of BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 30th.

BigBear.ai Price Performance

The stock has a fifty day moving average price of $3.56 and a 200-day moving average price of $2.28. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06. The firm has a market capitalization of $1.80 billion, a PE ratio of -7.88 and a beta of 3.17.

BigBear.ai (NYSE:BBAI) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. The business had revenue of $41.51 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. Sell-side analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Amanda Long sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $4.25, for a total value of $850,000.00. Following the transaction, the chief executive officer now owns 2,583,254 shares in the company, valued at approximately $10,978,829.50. This trade represents a 7.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sean Bernard Battle sold 44,813 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $4.46, for a total value of $199,865.98. Following the completion of the transaction, the director now directly owns 137,838 shares of the company’s stock, valued at $614,757.48. This represents a 24.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 310,953 shares of company stock valued at $1,347,496. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. acquired a new stake in BigBear.ai during the 4th quarter worth $325,000. Kovack Advisors Inc. acquired a new stake in BigBear.ai during the 4th quarter worth approximately $196,000. Private Advisor Group LLC increased its holdings in shares of BigBear.ai by 107.0% during the fourth quarter. Private Advisor Group LLC now owns 30,008 shares of the company’s stock worth $134,000 after purchasing an additional 15,508 shares during the period. Retirement Income Solutions Inc bought a new stake in shares of BigBear.ai during the 4th quarter valued at $47,000. Finally, Rhumbline Advisers grew its holdings in shares of BigBear.ai by 41.6% during the 4th quarter. Rhumbline Advisers now owns 111,825 shares of the company’s stock worth $498,000 after purchasing an additional 32,829 shares in the last quarter. Institutional investors 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.