BigBear.ai (NYSE:BBAI) Stock Price Down 7% - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) was down 7% during mid-day trading on Friday . The stock traded as low as $6.63 and last traded at $6.63. Approximately 44,224,602 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 52,274,671 shares. The stock had previously closed at $7.12.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their target price 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 Performance

The firm's 50 day moving average is $4.60 and its 200 day moving average is $4.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market cap of $2.02 billion, a P/E ratio of -8.88 and a beta of 3.46.

BigBear.ai (NYSE:BBAI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.04). The business had revenue of $34.76 million for the quarter, compared to analysts' expectations of $36.26 million. BigBear.ai had a negative return on equity of 57.83% and a negative net margin of 121.31%. BigBear.ai's revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.67) EPS. Analysts anticipate that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Transactions at BigBear.ai

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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Julie Peffer sold 50,000 shares of BigBear.ai stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $4.40, for a total value of $220,000.00. Following the sale, the chief financial officer directly owned 634,153 shares of the company's stock, valued at $2,790,273.20. This trade represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,987 shares of company stock worth $614,608. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On BigBear.ai

Several hedge funds and other institutional investors have recently bought and sold shares of BBAI. AE Industrial Partners LP purchased a new stake in shares of BigBear.ai in the 4th quarter valued at $284,721,000. Goldman Sachs Group Inc. lifted its position in BigBear.ai by 569.0% during the first 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 purchased a new stake in BigBear.ai in the first quarter valued at $3,811,000. TFG Asset Management GP Ltd purchased a new stake in BigBear.ai in the fourth quarter valued at $4,005,000. Finally, Soviero Asset Management LP acquired a new stake in BigBear.ai during the 4th quarter worth about $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.