BigBear.ai (NYSE:BBAI) Shares Down 1.2% – Here’s What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) dropped 1.2% on Thursday . The company traded as low as $2.98 and last traded at $3.07. Approximately 7,442,073 shares traded hands during trading, a decline of 65% from the average daily volume of 21,525,498 shares. The stock had previously closed at $3.11.

Analysts Set New Price Targets

BBAI has been the subject of a number of recent analyst reports. HC Wainwright reduced their target price on BigBear.ai from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, March 7th. Cantor Fitzgerald decreased their price objective on shares of BigBear.ai from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Northland Capmk lowered shares of BigBear.ai from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Northland Securities downgraded shares of BigBear.ai from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $2.50 to $4.00 in a research report on Friday, March 7th.

BigBear.ai Stock Down 0.8 %

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 firm has a 50 day moving average price of $5.12 and a 200-day moving average price of $3.25. The firm has a market cap of $847.76 million, a price-to-earnings ratio of -3.27 and a beta of 3.12.

Insider Buying and Selling at BigBear.ai

In other news, Director Sean Bernard Battle sold 44,813 shares of the company’s stock in a transaction 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 sale, the director now directly owns 137,838 shares in the company, valued at $614,757.48. This represents a 24.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanda Long sold 66,140 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.50, for a total value of $297,630.00. Following the sale, the chief executive officer now directly owns 2,445,449 shares in the company, valued at approximately $11,004,520.50. The trade was a 2.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 310,953 shares of company stock worth $1,347,496. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BigBear.ai

Hedge funds have recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in shares of BigBear.ai during the third quarter valued at approximately $61,000. State Street Corp boosted its stake in BigBear.ai by 16.8% in the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock worth $2,723,000 after buying an additional 267,673 shares during the last quarter. XTX Topco Ltd increased its stake in shares of BigBear.ai by 57.9% during the 3rd quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock valued at $89,000 after acquiring an additional 22,363 shares during the last quarter. Barclays PLC boosted its position in shares of BigBear.ai by 310.3% in the third quarter. Barclays PLC now owns 141,766 shares of the company’s stock worth $208,000 after acquiring an additional 107,214 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in 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 purchasing an additional 479,401 shares during the period. 7.55% of the stock is owned by institutional investors and hedge funds.

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.