BigBear.ai (NYSE:BBAI) Stock Price Up 32.5% - Time to Buy?

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s stock price shot up 32.5% on Wednesday . The company traded as high as $6.46 and last traded at $6.51. 80,906,546 shares changed hands during mid-day trading, an increase of 117% from the average session volume of 37,203,715 shares. The stock had previously closed at $4.91.

Analyst Ratings Changes

A number of research firms recently issued reports on BBAI. Cantor Fitzgerald restated an "overweight" rating and set a $3.50 price objective on shares of BigBear.ai in a report on Wednesday, November 6th. HC Wainwright raised their price target on shares of BigBear.ai from $3.00 to $7.00 and gave the stock a "buy" rating in a research note on Monday, December 30th.

BigBear.ai Stock Performance

The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06. The stock has a market capitalization of $2.16 billion, a P/E ratio of -9.44 and a beta of 3.17. The company has a 50 day simple moving average of $3.87 and a 200-day simple moving average of $2.40.

BigBear.ai (NYSE:BBAI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.02. The business had revenue of $41.51 million for the quarter, compared to analysts' expectations of $45.04 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. On average, equities analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Activity

In other news, Director Sean Bernard Battle sold 44,813 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.46, for a total value of $199,865.98. Following the transaction, the director now owns 137,838 shares of the company's stock, valued at approximately $614,757.48. This represents a 24.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Amanda Long sold 66,140 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.50, for a total value of $297,630.00. Following the transaction, the chief executive officer now owns 2,445,449 shares of the company's stock, valued at approximately $11,004,520.50. The trade was a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 310,953 shares of company stock valued at $1,347,496 over the last quarter. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On BigBear.ai

A number of institutional investors have recently made changes to their positions in BBAI. The Manufacturers Life Insurance Company increased its stake in BigBear.ai by 135.0% in the second quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company's stock valued at $62,000 after acquiring an additional 23,597 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of BigBear.ai during the 3rd quarter valued at about $131,000. Intech Investment Management LLC purchased a new position in shares of BigBear.ai during the 3rd quarter valued at about $61,000. State Street Corp lifted its position in BigBear.ai by 16.8% in the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company's stock worth $2,723,000 after buying an additional 267,673 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in BigBear.ai by 57.9% in the third quarter. XTX Topco Ltd now owns 61,011 shares of the company's stock worth $89,000 after buying an additional 22,363 shares in the last quarter. 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.