BigBear.ai (NYSE:BBAI) Shares Up 13.8% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price rose 13.8% during trading on Tuesday . The company traded as high as $4.47 and last traded at $4.46. Approximately 20,996,905 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 34,747,004 shares. The stock had previously closed at $3.92.

Analyst Ratings Changes

Several analysts recently weighed in on the company. HC Wainwright increased their target price on BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Stock Performance

The company has a market cap of $1.06 billion, a P/E ratio of -4.63 and a beta of 3.21. The firm’s fifty day moving average price is $3.19 and its 200-day moving average price is $2.12. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08.

BigBear.ai (NYSE:BBAI) last issued its earnings results on Tuesday, November 5th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The firm had revenue of $41.51 million during the quarter, compared to analysts’ expectations of $45.04 million. During the same period last year, the business earned $0.03 earnings per share. BigBear.ai’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, research analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Amanda Long sold 200,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $4.25, for a total value of $850,000.00. Following the sale, the chief executive officer now owns 2,583,254 shares of the company’s stock, valued at approximately $10,978,829.50. This represents a 7.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sean Bernard Battle sold 44,813 shares of BigBear.ai stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $4.46, for a total transaction of $199,865.98. Following the transaction, the director now directly owns 137,838 shares of the company’s stock, valued at $614,757.48. This represents a 24.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 310,953 shares of company stock worth $1,347,496 over the last quarter. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Simon Quick Advisors LLC bought a new stake in BigBear.ai during the 4th quarter worth about $44,000. Bay Rivers Group acquired a new position in shares of BigBear.ai during the fourth quarter worth approximately $48,000. Sovereign Financial Group Inc. bought a new stake in shares of BigBear.ai during the third quarter valued at approximately $36,000. XTX Topco Ltd acquired a new stake in shares of BigBear.ai in the second quarter valued at approximately $58,000. Finally, The Manufacturers Life Insurance Company raised its position in BigBear.ai by 135.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock worth $62,000 after purchasing an additional 23,597 shares during the last quarter. 7.55% of the stock is owned by institutional investors and hedge funds.

BigBear.ai Company Profile

BigBear.ai Holdings, Inc provides artificial intelligence-powered decision intelligence solutions. It offers national security, supply chain management, and digital identity and biometrics solutions. The company also provides data ingestion, data enrichment, data processing, artificial intelligence, machine learning, predictive analytics, and predictive visualization solutions and services.