BigBear.ai (NYSE:BBAI) Trading Up 20.5% - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s share price was up 20.5% during trading on Monday . The stock traded as high as $7.06 and last traded at $7.04. Approximately 119,722,990 shares changed hands during trading, an increase of 163% from the average daily volume of 45,505,689 shares. The stock had previously closed at $5.84.

Analyst Upgrades and Downgrades

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

BigBear.ai Trading Up 17.0%

The business has a 50 day moving average of $3.86 and a two-hundred day moving average of $4.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -8.76 and a beta of 3.30.

BigBear.ai (NYSE:BBAI - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $36.26 million. During the same period last year, the company posted ($0.67) earnings per share. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Buying and Selling

In related news, CAO Sean Raymond Ricker sold 14,063 shares of BigBear.ai stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Julie Peffer sold 50,000 shares of BigBear.ai stock in a transaction 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 sale, the chief financial officer owned 634,153 shares in the company, valued at $2,790,273.20. This trade represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,053 shares of company stock worth $620,599. 1.10% of the stock is owned by company insiders.

Institutional Trading of BigBear.ai

A number of hedge funds have recently bought and sold shares of BBAI. Invesco Ltd. increased its position in BigBear.ai by 8.3% in the fourth quarter. Invesco Ltd. now owns 21,149 shares of the company's stock worth $94,000 after buying an additional 1,629 shares during the last quarter. Victory Capital Management Inc. increased its position in BigBear.ai by 19.0% in the fourth quarter. Victory Capital Management Inc. now owns 14,576 shares of the company's stock worth $65,000 after buying an additional 2,332 shares during the last quarter. Deutsche Bank AG increased its position in BigBear.ai by 4.6% in the fourth quarter. Deutsche Bank AG now owns 55,055 shares of the company's stock worth $245,000 after buying an additional 2,427 shares during the last quarter. Wells Fargo & Company MN increased its position in BigBear.ai by 5.1% in the fourth quarter. Wells Fargo & Company MN now owns 78,458 shares of the company's stock worth $349,000 after buying an additional 3,797 shares during the last quarter. Finally, Choreo LLC grew its position in shares of BigBear.ai by 25.3% in the first quarter. Choreo LLC now owns 18,817 shares of the company's stock valued at $54,000 after purchasing an additional 3,802 shares in the last quarter. 7.55% of the stock is currently owned by 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.