BigBear.ai (NYSE:BBAI) Shares Up 12.6% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares rose 12.6% during trading on Monday . The company traded as high as $3.22 and last traded at $3.35. Approximately 13,261,327 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 21,688,463 shares. The stock had previously closed at $2.97.

Analyst Ratings Changes

Several research firms recently commented on BBAI. Northland Securities lowered BigBear.ai from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $2.50 to $4.00 in a report on Friday, March 7th. Northland Capmk cut shares of BigBear.ai from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 7th. HC Wainwright decreased their target price on shares of BigBear.ai from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Finally, Cantor Fitzgerald dropped their price target on shares of BigBear.ai from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th.

BigBear.ai Stock Performance

The company has a market capitalization of $999.88 million, a price-to-earnings ratio of -3.86 and a beta of 3.12. The firm has a fifty day simple moving average of $5.14 and a 200 day simple moving average of $3.31. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06.

Insider Activity at BigBear.ai

In related news, CEO Amanda Long sold 66,140 shares of the 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 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Sean Bernard Battle sold 44,813 shares of BigBear.ai stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total value of $199,865.98. Following the transaction, the director now owns 137,838 shares in the company, valued at approximately $614,757.48. The trade was a 24.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 310,953 shares of company stock valued at $1,347,496. 1.00% of the stock is owned by company insiders.

Institutional Trading of BigBear.ai

Several large investors have recently added to or reduced their stakes in the stock. AE Industrial Partners LP acquired a new position in shares of BigBear.ai during the 4th quarter valued at about $284,721,000. Vanguard Group Inc. boosted its holdings in BigBear.ai by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,790,608 shares of the company’s stock valued at $25,768,000 after purchasing an additional 23,994 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of BigBear.ai by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 2,197,296 shares of the company’s stock valued at $9,780,000 after buying an additional 38,858 shares during the period. State Street Corp grew its stake in shares of BigBear.ai by 16.8% in the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock valued at $2,723,000 after buying an additional 267,673 shares during the period. Finally, TFG Asset Management GP Ltd acquired a new stake in shares of BigBear.ai during the 4th quarter worth approximately $4,005,000. 7.55% of the stock is currently 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.