BigBear.ai (NYSE:BBAI) Trading 7.8% Higher – Time to Buy?

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares shot up 7.8% during trading on Friday . The stock traded as high as $3.06 and last traded at $3.04. 18,697,130 shares changed hands during mid-day trading, an increase of 89% from the average session volume of 9,873,222 shares. The stock had previously closed at $2.82.

Analyst Ratings Changes

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

BigBear.ai Stock Performance

The company has a market capitalization of $779.32 million, a price-to-earnings ratio of -3.42 and a beta of 3.58. The stock has a 50 day simple moving average of $2.17 and a 200 day simple moving average of $1.71. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08.

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

Insiders Place Their Bets

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total transaction of $1,019,614.26. Following the sale, the director now directly owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Fortis Group Advisors LLC boosted its stake in BigBear.ai by 26.9% during the 2nd quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock valued at $101,000 after purchasing an additional 14,134 shares in the last quarter. XTX Topco Ltd lifted 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 buying an additional 22,363 shares during the period. The Manufacturers Life Insurance Company boosted its stake in BigBear.ai by 135.0% during the second quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock valued at $62,000 after buying an additional 23,597 shares in the last quarter. Sovereign Financial Group Inc. acquired a new position in BigBear.ai during the third quarter worth about $36,000. Finally, Intech Investment Management LLC bought a new stake in BigBear.ai in the third quarter worth about $61,000. Institutional investors and hedge funds 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.