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

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) dropped 7.4% during trading on Wednesday . The stock traded as low as $4.73 and last traded at $4.85. Approximately 145,654,715 shares were traded during mid-day trading, an increase of 246% from the average daily volume of 42,146,530 shares. The stock had previously closed at $5.23.

Analyst Ratings Changes

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

BigBear.ai Trading Down 7.6%

The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $3.59 and a 200-day moving average price of $4.04. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -6.18 and a beta of 3.29.

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

Insider Activity

In related news, CAO Sean Raymond Ricker sold 14,063 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $3.05, for a total value of $42,892.15. Following the completion of the transaction, the chief accounting officer now directly owns 270,061 shares of the company's stock, valued at $823,686.05. This trade represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Julie Peffer sold 50,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $4.40, for a total transaction of $220,000.00. Following the completion of the transaction, the chief financial officer now owns 634,153 shares of the company's stock, valued at approximately $2,790,273.20. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,053 shares of company stock valued at $620,599. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBAI. Flaharty Asset Management LLC acquired a new position in shares of BigBear.ai in the 1st quarter worth approximately $26,000. City State Bank bought a new stake in BigBear.ai in the first quarter valued at $29,000. Cornerstone Wealth Management LLC acquired a new position in BigBear.ai during the first quarter worth $29,000. Blue Bell Private Wealth Management LLC raised its stake in BigBear.ai by 2,216.0% during the first quarter. Blue Bell Private Wealth Management LLC now owns 11,580 shares of the company's stock worth $33,000 after acquiring an additional 11,080 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of BigBear.ai during the first quarter valued at $34,000. Institutional investors own 7.55% of the company's stock.

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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