BigBear.ai (NYSE:BBAI) Sets New 52-Week Low - Here's What Happened

Key Points

• BigBear.ai shares hit a new 52-week low, falling to $2.58 before last trading at $2.6350 on heavy volume of about 25.1 million shares.
• Analyst sentiment is mixed but leans cautious: the stock has an average “Hold” rating, with recent downgrades to “Sell” and Cantor Fitzgerald cutting its price target from $5 to $4. The consensus target remains $5.00.
• Despite a 12.9% year-over-year revenue increase to $36.75 million and an in-line quarterly loss of $0.05 per share, BigBear.ai remains unprofitable, with a negative net margin of 65.20% and projected full-year EPS of -$0.22.

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) reached a new 52-week low on Saturday. The stock traded as low as $2.58 and last traded at $2.6350, with a volume of 25079871 shares. The stock had previously closed at $2.74.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BBAI shares. Wall Street Zen lowered BigBear.ai from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of BigBear.ai in a report on Friday, July 17th. Finally, Cantor Fitzgerald reduced their price objective on BigBear.ai from $5.00 to $4.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BigBear.ai presently has an average rating of "Hold" and a consensus target price of $5.00.

BigBear.ai Price Performance

The company has a market cap of $1.26 billion, a price-to-earnings ratio of -12.55 and a beta of 3.37. The company has a fifty day moving average price of $2.96 and a two-hundred day moving average price of $3.49. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 0.01.

BigBear.ai (NYSE:BBAI - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). BigBear.ai had a negative return on equity of 13.44% and a negative net margin of 65.20%.The business had revenue of $36.75 million during the quarter, compared to analyst estimates of $36.37 million. During the same period in the prior year, the company posted ($0.71) earnings per share. BigBear.ai's revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts anticipate that BigBear.ai Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Trading of BigBear.ai

Several institutional investors have recently made changes to their positions in BBAI. Bank of New York Mellon Corp bought a new position in BigBear.ai during the second quarter worth about $5,243,000. Clear Street Group Inc. boosted its position in shares of BigBear.ai by 245.3% during the fourth quarter. Clear Street Group Inc. now owns 614,096 shares of the company's stock worth $3,316,000 after buying an additional 436,250 shares during the period. Headlands Technologies LLC grew its holdings in shares of BigBear.ai by 351.8% during the second quarter. Headlands Technologies LLC now owns 512,339 shares of the company's stock worth $1,880,000 after buying an additional 398,936 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in BigBear.ai in the 2nd quarter valued at approximately $1,362,000. Finally, First Trust Advisors LP raised its position in BigBear.ai by 18.1% in the 1st quarter. First Trust Advisors LP now owns 2,419,242 shares of the company's stock valued at $8,516,000 after buying an additional 369,981 shares during the last quarter. 7.55% of the stock is currently owned by institutional investors and hedge funds.

About BigBear.ai

BigBear.ai Holdings, Inc provides artificial intelligence, machine learning and data analytics solutions designed to help organizations make decisions in complex, data-intensive environments. The company's capabilities include predictive analytics, computer vision, data integration, cloud-based systems and decision-support tools that help customers monitor conditions, identify risks, forecast outcomes and coordinate operations.

The company primarily serves the U.S. government, including defense, intelligence, national security, border security and transportation-related agencies.

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