BigBear.ai (NYSE:BBAI) Shares Gap Up - Time to Buy?

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 trading hands.

Analyst Ratings Changes

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

BigBear.ai Stock Performance

The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -8.24 and a beta of 3.46. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a 50 day moving average price of $4.60 and a 200-day moving average price of $4.37.

BigBear.ai (NYSE:BBAI - Get Free Report) last announced 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). BigBear.ai had a negative net margin of 121.31% and a negative return on equity of 57.83%. The firm had revenue of $34.76 million during the quarter, compared to analysts' expectations of $36.26 million. During the same period in the prior year, the company posted ($0.67) earnings per share. The company's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Sean Raymond Ricker sold 14,063 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $3.05, for a total transaction of $42,892.15. Following the completion of the sale, the chief accounting officer owned 270,061 shares in the company, valued at $823,686.05. This represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dorothy D. Hayes sold 26,000 shares of the firm's 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 completion of the sale, the director owned 255,239 shares of the company's stock, valued at $918,860.40. This trade represents a 9.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,987 shares of company stock worth $614,608 in the last 90 days. Company insiders own 1.10% of the company's stock.

Institutional Trading of BigBear.ai

Several hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of BigBear.ai by 1,376.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 10,190 shares of the company's stock worth $69,000 after acquiring an additional 9,500 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of BigBear.ai in the second quarter valued at about $98,000. Moody National Bank Trust Division purchased a new position in BigBear.ai in the second quarter valued at about $440,000. Wealth Enhancement Advisory Services LLC increased its holdings in BigBear.ai by 47.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,941 shares of the company's stock valued at $190,000 after buying an additional 8,964 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft purchased a new position in BigBear.ai in the second quarter valued at about $184,000. Institutional investors and hedge funds 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.