BigBear.ai (NYSE:BBAI) Shares Down 7.4% - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s stock price dropped 7.4% during mid-day trading on Thursday . The company traded as low as $3.49 and last traded at $3.57. Approximately 28,267,435 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 29,022,003 shares. The stock had previously closed at $3.85.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Cantor Fitzgerald reduced their price objective 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. 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 lifted their price target for the stock from $2.50 to $4.00 in a report on Friday, March 7th. Finally, HC Wainwright dropped their price objective on shares of BigBear.ai from $7.00 to $6.00 and set a "buy" rating for the company in a report on Friday, March 7th.

BigBear.ai Trading Down 4.2%

The business's 50-day moving average is $3.07 and its two-hundred day moving average is $3.65. The stock has a market capitalization of $1.07 billion, a PE ratio of -4.05 and a beta of 3.32. 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 posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.04). The business had revenue of $34.76 million during the quarter, compared to analyst estimates of $36.26 million. BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.67) earnings per share. On average, analysts anticipate that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Julie Peffer sold 45,924 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $3.48, for a total transaction of $159,815.52. Following the completion of the transaction, the chief financial officer now owns 684,153 shares of the company's stock, valued at approximately $2,380,852.44. This represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sean Raymond Ricker sold 36,166 shares of the 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 directly owns 223,070 shares of the company's stock, valued at approximately $814,205.50. This trade represents a 13.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,219 shares of company stock worth $439,005 in the last three months. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On BigBear.ai

Several hedge funds and other institutional investors have recently bought and sold shares of BBAI. Barclays PLC lifted its holdings in BigBear.ai by 310.3% in the 3rd quarter. Barclays PLC now owns 141,766 shares of the company's stock worth $208,000 after buying an additional 107,214 shares in the last quarter. Sovereign Financial Group Inc. grew its position in shares of BigBear.ai by 699.3% during the fourth quarter. Sovereign Financial Group Inc. now owns 199,815 shares of the company's stock worth $889,000 after buying an additional 174,815 shares in the last quarter. Grove Bank & Trust increased its stake in shares of BigBear.ai by 9,172.7% in the fourth quarter. Grove Bank & Trust now owns 102,000 shares of the company's stock worth $454,000 after buying an additional 100,900 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in BigBear.ai in the fourth quarter valued at $44,000. Finally, Bay Rivers Group bought a new position in BigBear.ai during the 4th quarter valued at $48,000. 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.

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