BigBear.ai (NYSE:BBAI) Shares Down 6% - Here's What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) traded down 6% during mid-day trading on Thursday . The stock traded as low as $3.85 and last traded at $4.01. 52,876,089 shares changed hands during mid-day trading, an increase of 52% from the average session volume of 34,689,945 shares. The stock had previously closed at $4.26.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BBAI. Cantor Fitzgerald cut their price target on BigBear.ai from $8.00 to $6.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. HC Wainwright reduced their price target on BigBear.ai from $7.00 to $6.00 and set a "buy" rating for the company in a report on Friday, March 7th. Northland Capmk downgraded BigBear.ai from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Northland Securities downgraded BigBear.ai from an "outperform" rating to a "market perform" rating and raised their price target for the stock from $2.50 to $4.00 in a research report on Friday, March 7th.

BigBear.ai Stock Up 1.9%

The stock has a fifty day moving average of $3.31 and a two-hundred day moving average of $3.91. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -4.22 and a beta of 3.29. 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 announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The firm had revenue of $34.76 million for the quarter, compared to analyst estimates of $36.26 million. During the same quarter in the previous year, the company earned ($0.67) EPS. The company's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, 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, CAO Sean Raymond Ricker sold 10,000 shares of BigBear.ai stock in a transaction on Monday, May 5th. The stock was sold at an average price of $3.33, for a total value of $33,300.00. Following the completion of the transaction, the chief accounting officer now owns 293,639 shares in the company, valued at approximately $977,817.87. The trade was a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Julie Peffer sold 50,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $4.40, for a total value of $220,000.00. Following the sale, the chief financial officer now owns 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 disclosure for this sale can be found here. Insiders sold a total of 204,219 shares of company stock valued at $752,605 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. lifted its position in shares of BigBear.ai by 8.3% in the fourth quarter. Invesco Ltd. now owns 21,149 shares of the company's stock valued at $94,000 after buying an additional 1,629 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of BigBear.ai by 19.0% during the 4th quarter. Victory Capital Management Inc. now owns 14,576 shares of the company's stock valued at $65,000 after acquiring an additional 2,332 shares in the last quarter. Deutsche Bank AG lifted its holdings in BigBear.ai by 4.6% during the 4th quarter. Deutsche Bank AG now owns 55,055 shares of the company's stock worth $245,000 after buying an additional 2,427 shares during the period. Wells Fargo & Company MN increased its position in BigBear.ai by 5.1% in the 4th quarter. Wells Fargo & Company MN now owns 78,458 shares of the company's stock valued at $349,000 after buying an additional 3,797 shares in the last quarter. Finally, Choreo LLC increased its position in BigBear.ai by 25.3% in the 1st quarter. Choreo LLC now owns 18,817 shares of the company's stock valued at $54,000 after buying an additional 3,802 shares in the last quarter. 7.55% of the stock is owned by institutional investors and hedge funds.

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.