BigBear.ai (NYSE:BBAI) Stock Price Down 2.4% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price was down 2.4% during trading on Friday . The stock traded as low as $3.18 and last traded at $3.24. Approximately 11,872,490 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 37,464,566 shares. The stock had previously closed at $3.32.

Analysts Set New Price Targets

BBAI has been the topic of several analyst reports. HC Wainwright lifted their price objective on BigBear.ai from $3.00 to $7.00 and gave the stock a “buy” rating in a 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 note on Wednesday, November 6th.

BigBear.ai Trading Down 2.1 %

The stock has a market cap of $814.40 million, a P/E ratio of -3.57 and a beta of 3.21. The firm’s 50 day simple moving average is $2.82 and its two-hundred day simple moving average is $1.97. 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 for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm 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%. BigBear.ai’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, equities research analysts predict that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Activity

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. Also, CEO Amanda Long sold 66,140 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.50, for a total transaction of $297,630.00. Following the completion of the transaction, the chief executive officer now owns 2,445,449 shares of the company’s stock, valued at $11,004,520.50. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 849,032 shares of company stock valued at $2,184,876. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of BigBear.ai

A number of hedge funds and other institutional investors have recently modified their holdings of BBAI. Bank of Montreal Can boosted its position in shares of BigBear.ai by 6,435.7% in the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock valued at $1,006,000 after purchasing an additional 643,570 shares during the period. Geode Capital Management LLC boosted its holdings 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 worth $3,152,000 after buying an additional 479,401 shares during the period. State Street Corp increased its position in shares of BigBear.ai by 16.8% in the third quarter. State Street Corp now owns 1,864,815 shares of the company’s stock worth $2,723,000 after acquiring an additional 267,673 shares in the last quarter. Bank of New York Mellon Corp raised its stake in BigBear.ai by 160.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company’s stock valued at $465,000 after purchasing an additional 189,593 shares during the period. Finally, Barclays PLC raised its position in BigBear.ai by 310.3% during the third quarter. Barclays PLC now owns 141,766 shares of the company’s stock valued at $208,000 after buying an additional 107,214 shares during the period. Institutional investors 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.