BigBear.ai (NYSE:BBAI) Shares Gap Up – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price gapped up prior to trading on Monday . The stock had previously closed at $2.52, but opened at $2.60. BigBear.ai shares last traded at $2.91, with a volume of 14,976,370 shares trading hands.

Wall Street Analysts Forecast Growth

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

BigBear.ai Price Performance

The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The company has a market cap of $851.99 million, a price-to-earnings ratio of -3.74 and a beta of 3.58. The stock’s 50-day simple moving average is $2.08 and its 200 day simple moving average is $1.68.

BigBear.ai (NYSE:BBAI) last issued 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 firm had revenue of $41.51 million for the quarter, compared to analyst estimates of $45.04 million. BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 EPS. On average, equities research analysts anticipate that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity

In related 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 completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Trading of BigBear.ai

A number of large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD acquired a new position in BigBear.ai during the 1st quarter worth $31,000. Sovereign Financial Group Inc. acquired a new position in shares of BigBear.ai during the third quarter worth about $36,000. XTX Topco Ltd acquired a new position in shares of BigBear.ai during the second quarter worth about $58,000. Intech Investment Management LLC purchased a new stake in shares of BigBear.ai during the third quarter worth approximately $61,000. Finally, The Manufacturers Life Insurance Company raised its holdings in BigBear.ai by 135.0% in the second quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock valued at $62,000 after acquiring an additional 23,597 shares in the last quarter. Hedge funds and other 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.