BigBear.ai (NYSE:BBAI) Stock Price Down 16.4% – Here’s Why

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) were down 16.4% during trading on Thursday . The company traded as low as $3.19 and last traded at $3.31. Approximately 47,996,865 shares changed hands during trading, an increase of 12% from the average daily volume of 42,807,543 shares. The stock had previously closed at $3.96.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BBAI shares. HC Wainwright raised their price objective on BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, December 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.50 price objective on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Trading Down 1.8 %

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 stock’s 50 day moving average is $2.82 and its 200-day moving average is $1.97. The company has a market cap of $816.91 million, a PE ratio of -3.58 and a beta of 3.21.

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

Insider Activity at BigBear.ai

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. Also, CEO Amanda Long sold 200,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,583,254 shares in the company, valued at approximately $10,978,829.50. This represents a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 849,032 shares of company stock valued at $2,184,876 in the last three months. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of BigBear.ai by 28.6% in the third quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock valued at $3,152,000 after buying an additional 479,401 shares in the last quarter. State Street Corp raised its holdings in BigBear.ai by 16.8% in the third 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. Bank of Montreal Can lifted its holdings in shares of BigBear.ai by 6,435.7% during the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock valued at $1,006,000 after acquiring an additional 643,570 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of BigBear.ai by 160.5% in the second quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company’s stock worth $465,000 after buying an additional 189,593 shares during the period. Finally, Barclays PLC grew its position in BigBear.ai by 310.3% in the third quarter. Barclays PLC now owns 141,766 shares of the company’s stock valued at $208,000 after acquiring an additional 107,214 shares in the last quarter. Hedge funds and other institutional investors own 7.55% of the company’s stock.

BigBear.ai Company Profile

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.