BigBear.ai (NYSE:BBAI) Shares Down 1.9% - Here's Why

Key Points

• BigBear.ai stock price declined by 1.9% to $7.66 amid low trading volume of approximately 21.75 million shares, significantly down from the average of 88.85 million shares.
• HC Wainwright has raised its price target for BigBear.ai from $6.00 to $9.00, maintaining a "buy" rating for the stock.
• The company's recent quarterly earnings revealed a loss of ($0.10) EPS, which was below analysts' expectations of ($0.06) EPS, along with a year-on-year revenue increase of 4.9%.
• Insiders have sold a total of 165,987 shares worth approximately $614,608 over the last quarter, indicating a decrease in their ownership stake.

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) shares were down 1.9% during mid-day trading on Friday . The stock traded as low as $7.51 and last traded at $7.66. Approximately 21,754,591 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 88,849,914 shares. The stock had previously closed at $7.80.

Analyst Upgrades and Downgrades

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

BigBear.ai Price Performance

The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $2.14 billion, a PE ratio of -9.44 and a beta of 3.46. The stock has a 50-day moving average price of $5.43 and a 200 day moving average price of $4.60.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.04). The company 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 121.31% and a negative return on equity of 57.83%. BigBear.ai's revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.67) EPS. Equities analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dorothy D. Hayes sold 26,000 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $3.60, for a total value of $93,600.00. Following the completion of the transaction, the director directly owned 255,239 shares of the company's stock, valued at approximately $918,860.40. This represents a 9.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Julie Peffer sold 50,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $4.40, for a total value of $220,000.00. Following the completion of the transaction, the chief financial officer owned 634,153 shares in the company, valued at $2,790,273.20. The trade was a 7.31% 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. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On BigBear.ai

Hedge funds and other institutional investors have recently modified their holdings of the business. Sovereign Financial Group Inc. grew its stake in BigBear.ai by 19.6% during the 2nd quarter. Sovereign Financial Group Inc. now owns 56,042 shares of the company's stock valued at $381,000 after acquiring an additional 9,177 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in BigBear.ai by 45.6% in the 2nd quarter. Apollon Wealth Management LLC now owns 52,050 shares of the company's stock valued at $353,000 after acquiring an additional 16,300 shares during the last quarter. Blair William & Co. IL raised its holdings in BigBear.ai by 9.4% in the 2nd quarter. Blair William & Co. IL now owns 309,601 shares of the company's stock valued at $2,102,000 after acquiring an additional 26,591 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in BigBear.ai by 48.5% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 125,136 shares of the company's stock valued at $850,000 after acquiring an additional 40,893 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in BigBear.ai by 63.6% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 59,700 shares of the company's stock valued at $405,000 after acquiring an additional 23,200 shares during the last quarter. 7.55% of the stock is owned by hedge funds and other institutional investors.

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.