BigBear.ai (NYSE:BBAI) Shares Gap Up - Still a Buy?

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) shares gapped up before the market opened 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.

Analyst Ratings Changes

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

BigBear.ai Stock Down 3.3%

The business's 50 day moving average price is $4.46 and its 200-day moving average price is $4.33. The firm has a market capitalization of $2.08 billion, a PE ratio of -9.14 and a beta of 3.46. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66.

BigBear.ai (NYSE:BBAI - Get Free Report) last posted 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 firm 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 121.31% and a negative return on equity of 57.83%. BigBear.ai's revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.67) earnings per share. As a group, equities research analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Sean Raymond Ricker sold 14,063 shares of the firm's 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 transaction, the chief accounting officer directly owned 270,061 shares in the company, valued at $823,686.05. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dorothy D. Hayes sold 26,000 shares of BigBear.ai stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $3.60, for a total transaction of $93,600.00. Following 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,987 shares of company stock valued at $614,608. 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. AE Industrial Partners LP acquired a new position in BigBear.ai during the fourth quarter valued at $284,721,000. Goldman Sachs Group Inc. boosted its stake in BigBear.ai by 569.0% during 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 period. Cubist Systematic Strategies LLC bought a new stake in BigBear.ai during the 1st quarter valued at approximately $3,811,000. TFG Asset Management GP Ltd bought a new stake in shares of BigBear.ai in the 4th quarter worth approximately $4,005,000. Finally, Soviero Asset Management LP bought a new stake in shares of BigBear.ai in the 4th quarter worth approximately $3,248,000. 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.