BigCommerce (NASDAQ:BIGC) Shares Gap Up to $6.69

BigCommerce Holdings, Inc. (NASDAQ:BIGC - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $6.69, but opened at $7.15. BigCommerce shares last traded at $7.95, with a volume of 528,356 shares changing hands.

Wall Street Analysts Forecast Growth

BIGC has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of BigCommerce from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 target price on shares of BigCommerce in a research report on Tuesday, January 30th. Bank of America reissued an "underperform" rating and set a $7.50 price target (down previously from $11.00) on shares of BigCommerce in a research report on Monday, March 25th. Morgan Stanley decreased their price objective on BigCommerce from $10.00 to $8.00 and set an "equal weight" rating for the company in a report on Wednesday, April 17th. Finally, Truist Financial dropped their target price on shares of BigCommerce from $10.00 to $9.00 and set a "hold" rating on the stock in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.25.

BigCommerce Trading Up 12.6 %

The firm has a market capitalization of $576.80 million, a PE ratio of -8.72 and a beta of 0.84. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 13.30. The company's 50-day simple moving average is $6.68 and its 200 day simple moving average is $8.08.

Hedge Funds Weigh In On BigCommerce

Several institutional investors and hedge funds have recently bought and sold shares of the company. AXQ Capital LP acquired a new stake in shares of BigCommerce in the 3rd quarter worth $110,000. Tower Research Capital LLC TRC grew its stake in shares of BigCommerce by 719.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,178 shares of the company's stock worth $109,000 after acquiring an additional 9,814 shares during the last quarter. Versor Investments LP acquired a new position in shares of BigCommerce during the fourth quarter valued at about $129,000. Aigen Investment Management LP purchased a new position in shares of BigCommerce in the 3rd quarter valued at approximately $245,000. Finally, Corton Capital Inc. boosted its stake in BigCommerce by 16.2% in the 3rd quarter. Corton Capital Inc. now owns 29,487 shares of the company's stock worth $291,000 after purchasing an additional 4,101 shares in the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.