BigBear.ai (NYSE:BBAI) Shares Up 3.9% - Here's Why

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s share price shot up 3.9% on Thursday . The stock traded as high as $3.27 and last traded at $3.17. 20,832,365 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 27,574,001 shares. The stock had previously closed at $3.05.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BBAI shares. HC Wainwright lowered their price target on BigBear.ai from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Northland Capmk cut shares of BigBear.ai from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 7th. Northland Securities cut shares of BigBear.ai from an "outperform" rating to a "market perform" rating and upped their price objective for the stock from $2.50 to $4.00 in a research report on Friday, March 7th. Finally, Cantor Fitzgerald decreased their price objective 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.

BigBear.ai Price Performance

The company has a 50-day moving average of $3.17 and a 200 day moving average of $3.59. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $944.03 million, a PE ratio of -3.56 and a beta of 3.32.

BigBear.ai (NYSE:BBAI - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.04). The business 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 109.90% and a negative return on equity of 138.35%. BigBear.ai's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.67) earnings per share. Sell-side analysts predict that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Activity at BigBear.ai

In other news, CAO Sean Raymond Ricker sold 10,000 shares of BigBear.ai stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $3.33, for a total transaction of $33,300.00. Following the sale, the chief accounting officer now owns 293,639 shares of the company's stock, valued at approximately $977,817.87. The trade was a 3.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 48,232 shares of company stock valued at $171,297. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BigBear.ai

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. purchased a new position in shares of BigBear.ai during the 4th quarter worth approximately $325,000. Barclays PLC raised its stake in BigBear.ai by 310.3% in the third quarter. Barclays PLC now owns 141,766 shares of the company's stock valued at $208,000 after buying an additional 107,214 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of BigBear.ai by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,596 shares of the company's stock worth $1,329,000 after acquiring an additional 8,879 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in BigBear.ai by 198.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 93,220 shares of the company's stock worth $415,000 after purchasing an additional 61,998 shares during the last quarter. Finally, Sargent Investment Group LLC acquired a new position in BigBear.ai in the fourth quarter valued at approximately $1,028,000. 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.

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