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

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $7.59, but opened at $7.95. BigBear.ai shares last traded at $7.18, with a volume of 33,684,571 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright increased their price objective on BigBear.ai from $6.00 to $9.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st.

BigBear.ai Stock Performance

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 market cap of $2.15 billion, a P/E ratio of -9.46 and a beta of 3.46. The stock has a 50 day moving average price of $4.46 and a two-hundred day moving average price of $4.33.

BigBear.ai (NYSE:BBAI - Get Free Report) last announced its quarterly earnings results 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 return on equity of 57.83% and a negative net margin of 121.31%. The company had revenue of $34.76 million for the quarter, compared to analyst estimates of $36.26 million. During the same quarter last year, the company posted ($0.67) earnings per share. The firm's quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Dorothy D. Hayes sold 26,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $3.60, for a total value of $93,600.00. Following the sale, the director directly owned 255,239 shares of the company's stock, valued at $918,860.40. This trade represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sean Raymond Ricker sold 14,063 shares of BigBear.ai stock in a transaction dated 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 directly owned 270,061 shares of the company's stock, 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 three months, insiders have sold 165,987 shares of company stock worth $614,608. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On BigBear.ai

Several institutional investors have recently made changes to their positions in BBAI. Bay Rivers Group acquired a new position in shares of BigBear.ai in the 2nd quarter valued at $74,000. Enterprise Bank & Trust Co purchased a new stake in BigBear.ai during the 2nd quarter valued at about $68,000. Goldman Sachs Group Inc. boosted its holdings in BigBear.ai by 569.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,340,713 shares of the company's stock valued at $6,694,000 after purchasing an additional 1,990,822 shares during the last quarter. Rhumbline Advisers raised its stake in shares of BigBear.ai by 18.1% in the 1st quarter. Rhumbline Advisers now owns 132,012 shares of the company's stock valued at $378,000 after acquiring an additional 20,187 shares during the period. Finally, Flaharty Asset Management LLC purchased a new stake in BigBear.ai during the 1st quarter worth approximately $26,000. Hedge funds and other 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.