BigBear.ai (NYSE:BBAI) Trading Down 6.5% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price fell 6.5% during mid-day trading on Monday . The stock traded as low as $2.95 and last traded at $3.03. 8,389,381 shares were traded during mid-day trading, a decline of 76% from the average session volume of 34,941,105 shares. The stock had previously closed at $3.24.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BBAI. HC Wainwright increased their target price on shares of BigBear.ai from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 30th. 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.

BigBear.ai Stock Up 6.3 %

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 company’s fifty day moving average is $2.89 and its 200-day moving average is $2.00. The company has a market capitalization of $846.98 million, a PE ratio of -3.71 and a beta of 3.21.

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

Insider Buying and Selling at BigBear.ai

In related news, CEO Amanda Long sold 66,140 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.50, for a total value of $297,630.00. Following the completion of the transaction, the chief executive officer now directly owns 2,445,449 shares of the company’s stock, valued at approximately $11,004,520.50. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 276,215 shares of company stock valued at $1,165,261 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd grew its holdings in shares of BigBear.ai by 57.9% in the third quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock valued at $89,000 after purchasing an additional 22,363 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of 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 purchasing an additional 23,597 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in shares of BigBear.ai in the third quarter valued at $36,000. Intech Investment Management LLC purchased a new position in shares of BigBear.ai in the third quarter valued at $61,000. Finally, Rhumbline Advisers grew its holdings in shares of BigBear.ai by 206.2% in the second quarter. Rhumbline Advisers now owns 101,963 shares of the company’s stock valued at $154,000 after purchasing an additional 68,663 shares in the last quarter. 7.55% of the stock is owned by hedge funds and other institutional investors.

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.