BigBear.ai (NYSE:BBAI) Trading Down 2.5% - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) was down 2.5% during mid-day trading on Monday . The stock traded as low as $7.22 and last traded at $7.56. Approximately 66,577,939 shares traded hands during trading, an increase of 33% from the average daily volume of 49,940,618 shares. The stock had previously closed at $7.75.

Analyst Ratings Changes

Separately, HC Wainwright upped their target price on shares of 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 Price Performance

The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $2.27 billion, a PE ratio of -9.97 and a beta of 3.46. The stock's 50-day moving average is $4.30 and its two-hundred day moving average is $4.28.

BigBear.ai (NYSE:BBAI - Get Free Report) last posted its quarterly earnings data 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). BigBear.ai had a negative return on equity of 57.83% and a negative net margin of 121.31%. The firm had revenue of $34.76 million during the quarter, compared to analysts' expectations of $36.26 million. During the same period last year, the company earned ($0.67) earnings per share. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts predict that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Transactions at BigBear.ai

In other news, CFO Julie Peffer sold 50,000 shares of the firm's stock in a transaction that occurred on 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 directly 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 legal filing with the SEC, which can be accessed through this link. Also, CAO Sean Raymond Ricker sold 14,063 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $3.05, for a total transaction of $42,892.15. Following the transaction, the chief accounting officer directly owned 270,061 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 165,987 shares of company stock valued at $614,608. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BigBear.ai

Institutional investors have recently modified their holdings of the stock. Enterprise Bank & Trust Co bought a new position in shares of BigBear.ai during the second quarter valued at approximately $68,000. Goldman Sachs Group Inc. boosted its stake in shares of 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 in the last quarter. Rhumbline Advisers boosted its stake in shares of BigBear.ai by 18.1% during the first quarter. Rhumbline Advisers now owns 132,012 shares of the company's stock valued at $378,000 after purchasing an additional 20,187 shares in the last quarter. Flaharty Asset Management LLC bought a new position in shares of BigBear.ai during the first quarter valued at approximately $26,000. Finally, NewEdge Advisors LLC boosted its stake in shares of BigBear.ai by 441.1% during the first quarter. NewEdge Advisors LLC now owns 74,318 shares of the company's stock valued at $213,000 after purchasing an additional 60,583 shares in the last quarter. 7.55% of the stock is owned by hedge funds and other institutional investors.

BigBear.ai Company Profile

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.