BigBear.ai (NYSE:BBAI) Sees Large Volume Increase Following Analyst Upgrade

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares saw unusually-strong trading volume on Monday after HC Wainwright raised their price target on the stock from $3.00 to $7.00. HC Wainwright currently has a buy rating on the stock. Approximately 15,043,709 shares traded hands during mid-day trading, an increase of 38% from the previous session’s volume of 10,935,650 shares.The stock last traded at $4.19 and had previously closed at $4.21.

Separately, 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.

Insiders Place Their Bets

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total value of $1,019,614.26. Following the sale, the director now owns 143,713,297 shares of the company’s stock, valued at $255,809,668.66. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanda Long sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $4.25, for a total transaction of $850,000.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 782,892 shares of company stock worth $1,887,246 over the last three months. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its position in BigBear.ai by 6,435.7% in the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock valued at $1,006,000 after purchasing an additional 643,570 shares during the last quarter. Geode Capital Management LLC lifted its position in BigBear.ai by 28.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock worth $3,152,000 after acquiring an additional 479,401 shares during the period. State Street Corp increased its holdings in shares of BigBear.ai by 16.8% in the third quarter. State Street Corp now owns 1,864,815 shares of the company’s stock valued at $2,723,000 after purchasing an additional 267,673 shares during the period. Bank of New York Mellon Corp raised its stake in shares of BigBear.ai by 160.5% during the second quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company’s stock worth $465,000 after purchasing an additional 189,593 shares during the last quarter. Finally, Barclays PLC increased its stake in BigBear.ai by 310.3% in the 3rd quarter. Barclays PLC now owns 141,766 shares of the company’s stock valued at $208,000 after buying an additional 107,214 shares during the period. 7.55% of the stock is currently owned by institutional investors and hedge funds.

BigBear.ai Trading Down 0.5 %

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.60 and a beta of 3.58. The business’s 50 day moving average price is $2.38 and its 200-day moving average price is $1.79. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06.

BigBear.ai (NYSE:BBAI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) EPS for the quarter, beating 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 firm had revenue of $41.51 million during the quarter, compared to analysts’ expectations of $45.04 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

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.