BigBear.ai (NYSE:BBAI) Stock Price Down 3.9% - Here's Why

Key Points

• BigBear.ai shares fell by 3.9% during mid-day trading, with the stock last trading at $6.77 after reaching a low of $6.67, marking a significant decrease in trading volume.
• HC Wainwright raised its price target for BigBear.ai from $6.00 to $9.00 and assigned a "buy" rating, reflecting optimism about the company's performance.
• Insider selling activity was noted, with CFO Julie Peffer selling 50,000 shares and Director Dorothy D. Hayes selling 26,000 shares, resulting in a decrease in their respective holdings.

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s stock price dropped 3.9% on Wednesday . The stock traded as low as $6.67 and last traded at $6.77. Approximately 22,979,124 shares were traded during trading, a decline of 74% from the average daily volume of 87,788,656 shares. The stock had previously closed at $7.04.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased 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 Trading Down 3.3%

The company has a 50 day simple moving average of $5.89 and a two-hundred day simple moving average of $4.78. The company has a market cap of $1.89 billion, a PE ratio of -8.31 and a beta of 3.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66.

Insider Transactions at BigBear.ai

In related news, CFO Julie Peffer sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $4.40, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dorothy D. Hayes sold 26,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $3.60, for a total transaction of $93,600.00. Following the completion of the transaction, the director owned 255,239 shares in the company, valued at $918,860.40. The trade was a 9.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,924 shares of company stock worth $473,416 in the last 90 days. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On BigBear.ai

Large investors have recently made changes to their positions in the business. LPL Financial LLC grew its position in BigBear.ai by 316.0% during the fourth quarter. LPL Financial LLC now owns 149,098 shares of the company's stock worth $663,000 after buying an additional 113,253 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of BigBear.ai by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,790,608 shares of the company's stock valued at $25,768,000 after buying an additional 23,994 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of BigBear.ai by 12.3% during the 4th quarter. JPMorgan Chase & Co. now owns 51,166 shares of the company's stock worth $228,000 after acquiring an additional 5,591 shares during the period. Geode Capital Management LLC boosted its position in shares of BigBear.ai by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 2,197,296 shares of the company's stock valued at $9,780,000 after acquiring an additional 38,858 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in BigBear.ai by 5.1% during the fourth quarter. Wells Fargo & Company MN now owns 78,458 shares of the company's stock worth $349,000 after purchasing an additional 3,797 shares during the period. Institutional investors and hedge funds own 7.55% of the company's stock.

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.