BigBear.ai (NYSE:BBAI) Shares Down 7.3% - Here's What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) dropped 7.3% during trading on Tuesday . The company traded as low as $6.34 and last traded at $6.30. Approximately 116,160,356 shares traded hands during mid-day trading, an increase of 149% from the average daily volume of 46,675,991 shares. The stock had previously closed at $6.79.

Analysts Set New Price Targets

BBAI has been the subject of several research reports. Northland Capmk cut shares of BigBear.ai from a "strong-buy" rating to a "hold" rating in a report on Friday, March 7th. HC Wainwright raised their price objective on shares of BigBear.ai from $6.00 to $9.00 and gave the company a "buy" rating in a research report on Tuesday. Cantor Fitzgerald lowered 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. Finally, Northland Securities downgraded shares of BigBear.ai from an "outperform" rating to a "market perform" rating and increased their price objective for the company from $2.50 to $4.00 in a report on Friday, March 7th.

BigBear.ai Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market cap of $2.25 billion, a P/E ratio of -9.90 and a beta of 3.46. The stock's 50-day simple moving average is $4.13 and its two-hundred day simple moving average is $4.20.

BigBear.ai (NYSE:BBAI - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.04). The firm had revenue of $34.76 million for the quarter, compared to the consensus estimate of $36.26 million. BigBear.ai had a negative net margin of 121.31% and a negative return on equity of 57.83%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm earned ($0.67) earnings per share. Equities research analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at BigBear.ai

In related news, Director Dorothy D. Hayes sold 26,000 shares of BigBear.ai stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $3.60, for a total value of $93,600.00. Following the completion of the sale, the director directly owned 255,239 shares in the company, valued at $918,860.40. This trade represents a 9.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sean Raymond Ricker sold 14,063 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $3.05, for a total transaction of $42,892.15. Following the sale, the chief accounting officer directly owned 270,061 shares in the company, valued at approximately $823,686.05. This represents a 4.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,987 shares of company stock worth $614,608. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On BigBear.ai

A number of institutional investors and hedge funds have recently modified their holdings of BBAI. Flaharty Asset Management LLC purchased a new stake in shares of BigBear.ai during the 1st quarter worth about $26,000. City State Bank purchased a new position in BigBear.ai during the first quarter worth approximately $29,000. Cornerstone Wealth Management LLC purchased a new stake in shares of BigBear.ai in the 1st quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of BigBear.ai by 2,216.0% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 11,580 shares of the company's stock valued at $33,000 after purchasing an additional 11,080 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in BigBear.ai in the first quarter valued at about $34,000. Institutional investors and hedge funds 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.