BigBear.ai (NYSE:BBAI) Shares Gap Up - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $4.14, but opened at $4.40. BigBear.ai shares last traded at $4.21, with a volume of 11,352,301 shares trading hands.

Analysts Set New Price Targets

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

BigBear.ai Stock Performance

The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -4.59 and a beta of 3.32. The company's 50-day simple moving average is $3.22 and its 200-day simple moving average is $3.82. 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). The company had revenue of $34.76 million for the quarter, compared to the consensus estimate of $36.26 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The business's revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.67) earnings per share. Analysts predict that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other BigBear.ai news, CAO Sean Raymond Ricker sold 36,166 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $3.65, for a total transaction of $132,005.90. Following the completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dorothy D. Hayes sold 26,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $3.60, for a total transaction of $93,600.00. Following the sale, the director now owns 255,239 shares in the company, valued at $918,860.40. This represents a 9.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,219 shares of company stock valued at $752,605. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of BigBear.ai

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of BigBear.ai by 18.1% in the first quarter. Rhumbline Advisers now owns 132,012 shares of the company's stock worth $378,000 after buying an additional 20,187 shares during the period. Flaharty Asset Management LLC purchased a new position in shares of BigBear.ai during the 1st quarter valued at $26,000. Goldman Sachs Group Inc. increased its stake in shares of BigBear.ai by 569.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,340,713 shares of the company's stock worth $6,694,000 after acquiring an additional 1,990,822 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of BigBear.ai by 441.1% during the first quarter. NewEdge Advisors LLC now owns 74,318 shares of the company's stock worth $213,000 after acquiring an additional 60,583 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of BigBear.ai by 54.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 456,661 shares of the company's stock worth $1,306,000 after acquiring an additional 160,096 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.