BigBear.ai (NYSE:BBAI) Trading 9.1% Higher – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares were up 9.1% during trading on Thursday . The company traded as high as $4.21 and last traded at $4.07. Approximately 38,057,001 shares changed hands during mid-day trading, an increase of 266% from the average daily volume of 10,397,423 shares. The stock had previously closed at $3.73.

Analysts Set New Price Targets

Several brokerages have weighed in on BBAI. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 target price on shares of BigBear.ai in a research note on Wednesday, November 6th. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price target on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Price Performance

The stock has a fifty day moving average of $2.38 and a 200-day moving average of $1.79. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.63 and a beta of 3.58.

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

Insider Transactions at BigBear.ai

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total transaction of $1,019,614.26. Following the sale, the director now directly owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. The trade was a 0.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanda Long sold 200,000 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total transaction of $850,000.00. Following the transaction, the chief executive officer now directly owns 2,583,254 shares in the company, valued at approximately $10,978,829.50. This trade represents a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 782,892 shares of company stock worth $1,887,246 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BigBear.ai

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sovereign Financial Group Inc. acquired a new position in shares of BigBear.ai during the 3rd quarter worth $36,000. XTX Topco Ltd acquired a new position in BigBear.ai during the second quarter worth about $58,000. The Manufacturers Life Insurance Company lifted its holdings in shares of BigBear.ai by 135.0% in the second quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock valued at $62,000 after purchasing an additional 23,597 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of BigBear.ai in the third quarter valued at approximately $61,000. Finally, Fortis Group Advisors LLC increased its stake in shares of BigBear.ai by 26.9% during the 2nd quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock worth $101,000 after purchasing an additional 14,134 shares in 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-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.