BigBear.ai (NYSE:BBAI) Shares Down 4.3% - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) was down 4.3% during trading on Friday . The company traded as low as $3.56 and last traded at $3.66. Approximately 49,087,882 shares were traded during trading, an increase of 59% from the average daily volume of 30,905,211 shares. The stock had previously closed at $3.82.

Analysts Set New Price Targets

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

BigBear.ai Stock Performance

The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -4.02 and a beta of 3.32. The company's 50-day simple moving average is $3.12 and its 200-day simple moving average is $3.73. 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 - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The company had revenue of $34.76 million for the quarter, compared to the consensus estimate of $36.26 million. During the same period in the prior year, the business earned ($0.67) earnings per share. The business's revenue was up 4.9% compared to the same quarter last year. Analysts predict that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Transactions at BigBear.ai

In other BigBear.ai news, CFO Julie Peffer sold 20,000 shares of BigBear.ai stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $3.25, for a total transaction of $65,000.00. Following the transaction, the chief financial officer now owns 730,077 shares of the company's stock, valued at $2,372,750.25. The trade was a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sean Raymond Ricker sold 36,166 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $3.65, for a total transaction of $132,005.90. Following the sale, the chief accounting officer now owns 223,070 shares of the company's stock, valued at approximately $814,205.50. This represents a 13.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 154,219 shares of company stock valued at $532,605 over the last ninety days. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On BigBear.ai

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AE Industrial Partners LP purchased a new position in shares of BigBear.ai during the 4th quarter valued at $284,721,000. Goldman Sachs Group Inc. grew its stake in BigBear.ai by 569.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,340,713 shares of the company's stock valued at $6,694,000 after purchasing an additional 1,990,822 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in BigBear.ai in the 1st quarter worth about $3,811,000. TFG Asset Management GP Ltd purchased a new stake in shares of BigBear.ai during the 4th quarter worth about $4,005,000. Finally, Soviero Asset Management LP acquired a new stake in shares of BigBear.ai during the 4th quarter valued at about $3,248,000. Hedge funds and other 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.

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