BigBear.ai (NYSE:BBAI) Hits New 1-Year Low - Here's Why

Key Points

• BigBear.ai shares hit a new 52-week low, trading as low as $2.07 and down 7.6% on the day.
• Quarterly revenue rose 31.5% year over year to $43.58 million, beating estimates, but EPS was a loss of $0.19 versus the expected loss of $0.06.
• Cantor Fitzgerald cut its price target from $4 to $3 and kept a neutral rating; analysts’ overall consensus was Hold, with an average target of $4.50.

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $2.07 and last traded at $2.1250, with a volume of 5,769,788 shares traded. The stock had previously closed at $2.30.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BBAI. Cantor Fitzgerald decreased their price target on BigBear.ai from $4.00 to $3.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 28th. Citigroup reissued a "market perform" rating on shares of BigBear.ai in a research note on Wednesday, October 28th. Wall Street Zen cut shares of BigBear.ai from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BigBear.ai in a research note on Thursday, October 15th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $4.50.

BigBear.ai Trading Down 7.6%

The company has a quick ratio of 4.92, a current ratio of 4.92 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.02 billion, a PE ratio of -5.74 and a beta of 3.37. The stock's fifty day moving average price is $2.56 and its two-hundred day moving average price is $3.48.

BigBear.ai (NYSE:BBAI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.13). BigBear.ai had a negative net margin of 126.84% and a negative return on equity of 15.17%. The business had revenue of $43.58 million for the quarter, compared to analysts' expectations of $29.93 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The firm's revenue for the quarter was up 31.5% on a year-over-year basis. Sell-side analysts anticipate that BigBear.ai Holdings, Inc. will post -0.36 earnings per share for the current year.

Institutional Trading of BigBear.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in BigBear.ai by 11.8% in the first quarter. Principal Financial Group Inc. now owns 22,698 shares of the company's stock valued at $80,000 after acquiring an additional 2,391 shares in the last quarter. Kestra Advisory Services LLC lifted its position in shares of BigBear.ai by 29.2% in the 1st quarter. Kestra Advisory Services LLC now owns 18,424 shares of the company's stock worth $65,000 after purchasing an additional 4,159 shares during the period. Bank of New York Mellon Corp lifted its position in shares of BigBear.ai by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,264,406 shares of the company's stock worth $4,451,000 after purchasing an additional 6,365 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of BigBear.ai by 34.2% during the 1st quarter. Sanctuary Advisors LLC now owns 25,517 shares of the company's stock valued at $90,000 after purchasing an additional 6,506 shares in the last quarter. Finally, DV Trading LLC boosted its stake in shares of BigBear.ai by 160.8% during the 1st quarter. DV Trading LLC now owns 13,344 shares of the company's stock valued at $47,000 after purchasing an additional 8,227 shares in the last quarter. Hedge funds and other institutional investors own 7.55% of the company's stock.

BigBear.ai Company Profile

BigBear.ai Holdings, Inc. provides artificial intelligence and decision-intelligence solutions that help organizations analyze data and support complex operational decisions. Its services include data integration, predictive analytics, machine learning and computer vision, with applications in areas such as national security, defense, supply chain management and travel security. The company serves U.S. government customers as well as commercial organizations. Its offerings are designed to help customers combine information from multiple sources, identify patterns and improve planning and operational awareness.

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