BigBear.ai (NYSE:BBAI) Stock Price Down 7.7% - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) shares traded down 7.7% on Wednesday . The company traded as low as $4.04 and last traded at $4.15. 47,030,952 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 31,922,800 shares. The stock had previously closed at $4.49.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BBAI shares. HC Wainwright cut their price target on BigBear.ai from $7.00 to $6.00 and set a "buy" rating for the company in a report on Friday, March 7th. Northland Capmk cut shares of BigBear.ai from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 7th. Northland Securities lowered shares of BigBear.ai from an "outperform" rating to a "market perform" rating and upped their price target for the company from $2.50 to $4.00 in a research note on Friday, March 7th. Finally, Cantor Fitzgerald cut their price objective on shares of BigBear.ai from $8.00 to $6.00 and set an "overweight" rating for the company in a research report on Friday, March 7th.

BigBear.ai Stock Down 6.4%

The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock has a market cap of $1.13 billion, a P/E ratio of -4.26 and a beta of 3.32. The firm has a 50-day simple moving average of $3.20 and a two-hundred day simple moving average of $3.81.

BigBear.ai (NYSE:BBAI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.04). The business had revenue of $34.76 million for the quarter, compared to the consensus estimate of $36.26 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. 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) earnings per share. Equities research analysts expect that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Activity at BigBear.ai

In other BigBear.ai news, CFO Julie Peffer sold 20,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $3.25, for a total value of $65,000.00. Following the transaction, the chief financial officer now directly owns 730,077 shares of the company's stock, valued at $2,372,750.25. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dorothy D. Hayes sold 26,000 shares of the business's stock in a transaction that occurred 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 now owns 255,239 shares of the company's stock, 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. Over the last ninety days, insiders sold 204,219 shares of company stock worth $752,605. Company insiders own 1.10% of the company's stock.

Institutional Trading of BigBear.ai

Large investors have recently made changes to their positions in the company. Flaharty Asset Management LLC acquired a new position in BigBear.ai during the first quarter worth about $26,000. City State Bank bought a new stake in shares of BigBear.ai during the 1st quarter valued at approximately $29,000. Cornerstone Wealth Management LLC acquired a new position in BigBear.ai during the 1st quarter worth approximately $29,000. Blue Bell Private Wealth Management LLC lifted its stake in BigBear.ai by 2,216.0% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 11,580 shares of the company's stock valued at $33,000 after purchasing an additional 11,080 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in BigBear.ai in the first quarter valued at approximately $34,000. Institutional investors and hedge funds 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.