BigBear.ai (NYSE:BBAI) Shares Down 6.6%

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) fell 6.6% on Monday . The company traded as low as $2.23 and last traded at $2.28. 12,523,661 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 12,033,433 shares. The stock had previously closed at $2.44.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated an "overweight" rating and issued a $3.00 price objective on shares of BigBear.ai in a report on Monday, March 4th.

BigBear.ai Trading Down 9.4 %

The company has a market cap of $346.57 million, a price-to-earnings ratio of -5.33 and a beta of 3.86. The firm's fifty day simple moving average is $2.25 and its 200 day simple moving average is $1.85.

BigBear.ai (NYSE:BBAI - Get Free Report) last issued its earnings results on Thursday, March 7th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.07). The company had revenue of $40.56 million for the quarter, compared to analysts' expectations of $42.75 million. The company's quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.23) EPS. As a group, sell-side analysts expect that BigBear.ai Holdings, Inc. will post -0.2 EPS for the current year.

Insider Activity at BigBear.ai

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 5,557,343 shares of the company's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $2.69, for a total value of $14,949,252.67. Following the completion of the transaction, the director now owns 159,186,896 shares in the company, valued at $428,212,750.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Bbai Ultimate Holdings, Llc sold 5,557,343 shares of the company's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $2.69, for a total value of $14,949,252.67. Following the completion of the sale, the director now directly owns 159,186,896 shares of the company's stock, valued at approximately $428,212,750.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Raluca Dinu sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $2.58, for a total value of $258,000.00. Following the completion of the sale, the director now directly owns 523,374 shares of the company's stock, valued at $1,350,304.92. The disclosure for this sale can be found here. Insiders sold 5,785,170 shares of company stock valued at $15,520,976 over the last three months. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BigBear.ai

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE acquired a new stake in BigBear.ai during the 1st quarter worth approximately $5,390,000. BlackRock Inc. acquired a new stake in shares of BigBear.ai in the 2nd quarter worth $4,858,000. Vanguard Group Inc. boosted its holdings in shares of BigBear.ai by 129.3% in the third quarter. Vanguard Group Inc. now owns 1,901,954 shares of the company's stock valued at $2,872,000 after acquiring an additional 1,072,487 shares in the last quarter. State Street Corp purchased a new position in BigBear.ai during the second quarter worth about $1,098,000. Finally, Raymond James & Associates lifted its position in BigBear.ai by 130.4% in the third quarter. Raymond James & Associates now owns 748,949 shares of the company's stock valued at $1,131,000 after purchasing an additional 423,893 shares during the period. Institutional investors and hedge funds own 1.47% of the company's stock.

About BigBear.ai

BigBear.ai Holdings, Inc provides artificial intelligence and machine learning for decision support. The company operates through two segments, Cyber & Engineering and Analytics. The Cyber & Engineering segment offers high-end technology and management consulting services. It focuses in the areas of cloud engineering and enterprise IT, cybersecurity, computer network operations and wireless, systems engineering, and strategy and program planning.