BigBear.ai (NYSE:BBAI) Shares Down 1.1% - Here's What Happened

Key Points

• BigBear.ai's shares experienced a 1.1% decline, trading at $5.78 with a significant decrease in volume, down 78% from the average.
• Analysts have adjusted their price target for BigBear.ai from $9.00 to $8.00, while maintaining a "buy" rating on the stock.
• The company's quarterly earnings report showed a revenue of $32.47 million, below expectations, and a negative net margin of 269.28%.

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) shares traded down 1.1% during trading on Friday . The company traded as low as $5.56 and last traded at $5.78. 19,769,786 shares traded hands during trading, a decline of 78% from the average session volume of 88,602,719 shares. The stock had previously closed at $5.84.

Analyst Ratings Changes

Separately, HC Wainwright cut their price target on BigBear.ai from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Tuesday.

BigBear.ai Stock Up 0.8%

The company has a current ratio of 1.91, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -4.09 and a beta of 3.44. The business's fifty day moving average price is $6.18 and its 200 day moving average price is $4.87.

BigBear.ai (NYSE:BBAI - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The company had revenue of $32.47 million for the quarter, compared to analyst estimates of $41.18 million. BigBear.ai had a negative net margin of 269.28% and a negative return on equity of 48.11%. BigBear.ai's quarterly revenue was down 18.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) earnings per share. On average, equities analysts expect that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Activity

In other BigBear.ai news, CFO Julie Peffer sold 50,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $4.40, for a total value of $220,000.00. Following the transaction, the chief financial officer directly owned 634,153 shares of the company's stock, valued at approximately $2,790,273.20. The trade was a 7.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On BigBear.ai

Institutional investors have recently bought and sold shares of the company. LPL Financial LLC increased its stake in shares of BigBear.ai by 316.0% during the fourth quarter. LPL Financial LLC now owns 149,098 shares of the company's stock worth $663,000 after acquiring an additional 113,253 shares during the period. JPMorgan Chase & Co. increased its position in BigBear.ai by 12.3% during the 4th quarter. JPMorgan Chase & Co. now owns 51,166 shares of the company's stock worth $228,000 after purchasing an additional 5,591 shares during the period. Geode Capital Management LLC increased its position in BigBear.ai by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 2,197,296 shares of the company's stock worth $9,780,000 after purchasing an additional 38,858 shares during the period. Wells Fargo & Company MN increased its position in BigBear.ai by 5.1% during the 4th quarter. Wells Fargo & Company MN now owns 78,458 shares of the company's stock worth $349,000 after purchasing an additional 3,797 shares during the period. Finally, Invesco Ltd. increased its position in BigBear.ai by 8.3% during the 4th quarter. Invesco Ltd. now owns 21,149 shares of the company's stock worth $94,000 after purchasing an additional 1,629 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.

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