BigCommerce Holdings, Inc. (NASDAQ:BIGC) Sees Large Drop in Short Interest

BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 8,500,000 shares, a decline of 5.8% from the August 31st total of 9,020,000 shares. Approximately 13.6% of the shares of the stock are short sold. Based on an average daily volume of 823,600 shares, the days-to-cover ratio is presently 10.3 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BIGC. Barclays cut their price target on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Bank of America dropped their target price on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of BigCommerce in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.93.

BigCommerce Trading Down 1.8 %

Shares of BIGC traded down $0.11 on Monday, hitting $5.97. 328,970 shares of the stock traded hands, compared to its average volume of 777,354. BigCommerce has a 1 year low of $5.35 and a 1 year high of $10.29. The stock’s 50 day moving average is $6.23 and its two-hundred day moving average is $6.92. The firm has a market capitalization of $461.33 million, a P/E ratio of -9.73 and a beta of 0.98. The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 13.04.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $81.83 million for the quarter, compared to analysts’ expectations of $81.13 million. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) earnings per share. As a group, sell-side analysts predict that BigCommerce will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BIGC. Canada Pension Plan Investment Board acquired a new stake in shares of BigCommerce in the second quarter worth approximately $35,000. Acadian Asset Management LLC acquired a new stake in shares of BigCommerce during the 1st quarter worth $80,000. Virtu Financial LLC purchased a new position in shares of BigCommerce in the 1st quarter worth $104,000. AQR Capital Management LLC acquired a new position in BigCommerce in the second quarter valued at $121,000. Finally, Bayesian Capital Management LP acquired a new position in BigCommerce in the first quarter valued at $144,000. Institutional investors and hedge funds own 79.21% of the company’s stock.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.