BigBear.ai Holdings, Inc. (NYSE:BBAI) Sees Significant Increase in Short Interest

BigBear.ai Holdings, Inc. (NYSE:BBAI) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 33,880,000 shares, an increase of 101.2% from the December 15th total of 16,840,000 shares. Based on an average daily volume of 27,800,000 shares, the days-to-cover ratio is presently 1.2 days. Currently, 18.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO Amanda Long sold 200,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total transaction of $850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,583,254 shares of the company’s stock, valued at approximately $10,978,829.50. This represents a 7.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On BigBear.ai

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sovereign Financial Group Inc. acquired a new position in BigBear.ai in the 3rd quarter valued at about $36,000. XTX Topco Ltd purchased a new position in BigBear.ai during the 2nd quarter valued at about $58,000. 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. Intech Investment Management LLC acquired a new stake in shares of BigBear.ai in the third quarter valued at $61,000. Finally, Koshinski Asset Management Inc. purchased a new position in BigBear.ai in the third quarter valued at $131,000. Hedge funds and other institutional investors own 7.55% of the company’s stock.

BigBear.ai Stock Performance

Shares of NYSE BBAI traded up $0.74 during midday trading on Thursday, reaching $4.13. The company had a trading volume of 58,198,371 shares, compared to its average volume of 36,624,660. The business’s 50-day simple moving average is $2.95 and its 200 day simple moving average is $2.02. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock has a market cap of $1.03 billion, a P/E ratio of -4.54 and a beta of 3.21. BigBear.ai has a 1 year low of $1.16 and a 1 year high of $5.20.

BigBear.ai (NYSE:BBAI) last posted its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. The business 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 company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. On average, analysts forecast that BigBear.ai will post -0.28 earnings per share for the current fiscal year.

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.