BigBear.ai (NYSE:BBAI) Trading Up 12.3% - Here's Why

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s share price rose 12.3% during mid-day trading on Thursday . The company traded as high as $8.30 and last traded at $7.99. Approximately 100,024,857 shares were traded during mid-day trading, an increase of 84% from the average daily volume of 54,506,810 shares. The stock had previously closed at $7.12.

Analyst Upgrades and Downgrades

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

BigBear.ai Stock Down 0.7%

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's 50-day moving average price is $4.93 and its 200-day moving average price is $4.46. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -10.43 and a beta of 3.46.

BigBear.ai (NYSE:BBAI - Get Free Report) last released 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 firm had revenue of $34.76 million for 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 for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.67) earnings per share. Sell-side analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at BigBear.ai

In other news, CFO Julie Peffer sold 50,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $4.40, for a total transaction of $220,000.00. Following the transaction, the chief financial officer owned 634,153 shares of the company's stock, valued at approximately $2,790,273.20. This trade represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 owned 270,061 shares of the company's stock, valued at $823,686.05. This trade represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,987 shares of company stock valued at $614,608 in the last three months. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BBAI. Flaharty Asset Management LLC bought a new position in BigBear.ai during the first quarter valued at about $26,000. City State Bank bought a new stake in shares of BigBear.ai in the 1st quarter worth approximately $29,000. Cornerstone Wealth Management LLC bought a new stake in BigBear.ai during the first quarter worth approximately $29,000. Blue Bell Private Wealth Management LLC grew its position in BigBear.ai by 2,216.0% in the first quarter. Blue Bell Private Wealth Management LLC now owns 11,580 shares of the company's stock worth $33,000 after buying an additional 11,080 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of BigBear.ai in the first quarter valued at $34,000. Institutional investors 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.