BigBear.ai (NYSE:BBAI) Stock Price Up 5% - Here's What Happened

Key Points

• BigBear.ai shares rose about 5% to roughly $2.41 in Tuesday trading, although volume was 77% below the stock’s average daily level.
• Analyst sentiment remains mixed to negative: the consensus rating is “Hold”, with one Buy, one Hold and one Sell rating; Cantor Fitzgerald also reduced its price target to $4 from $5.
• BigBear.ai’s latest quarterly revenue increased 12.9% year over year to $36.75 million and matched expectations on EPS, but the company remained unprofitable with a 65.2% negative net margin.

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) traded up 5% on Tuesday. The stock traded as high as $2.54 and last traded at $2.4140. Approximately 8,379,326 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 37,144,340 shares. The stock had previously closed at $2.30.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wall Street Zen downgraded BigBear.ai from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BigBear.ai in a research note on Friday, July 17th. Finally, Cantor Fitzgerald lowered their price target on BigBear.ai from $5.00 to $4.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $5.00.

BigBear.ai Stock Up 4.6%

The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -11.50 and a beta of 3.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.67 and a current ratio of 5.67. The business's 50-day moving average is $2.92 and its 200-day moving average is $3.44.

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

Institutional Trading of BigBear.ai

Several hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in BigBear.ai by 19.7% in the third quarter. Farther Finance Advisors LLC now owns 59,103 shares of the company's stock worth $157,000 after purchasing an additional 9,737 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of BigBear.ai during the second quarter worth $1,362,000. Engineers Gate Manager LP bought a new stake in shares of BigBear.ai during the second quarter worth $194,000. NewEdge Advisors LLC increased its stake in shares of BigBear.ai by 14.4% in the second quarter. NewEdge Advisors LLC now owns 135,886 shares of the company's stock valued at $499,000 after buying an additional 17,143 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of BigBear.ai by 46.6% in the second quarter. Squarepoint Ops LLC now owns 268,279 shares of the company's stock valued at $985,000 after buying an additional 85,228 shares in the last quarter. Institutional investors and hedge funds own 7.55% of the company's stock.

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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