BigCommerce Holdings, Inc. (NASDAQ:BIGC) Short Interest Update

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 9,020,000 shares, a decrease of 7.1% from the August 15th total of 9,710,000 shares. Based on an average trading volume of 684,600 shares, the days-to-cover ratio is presently 13.2 days. Currently, 14.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several analysts recently commented on BIGC shares. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a research note on Wednesday, August 28th. Barclays reduced their price target on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Finally, Bank of America decreased their price target on BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.31.

Institutional Trading of BigCommerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of BigCommerce by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock worth $70,817,000 after purchasing an additional 572,396 shares during the last quarter. Cadian Capital Management LP boosted its position in BigCommerce by 13.6% during the fourth quarter. Cadian Capital Management LP now owns 7,553,280 shares of the company’s stock worth $73,493,000 after acquiring an additional 904,750 shares during the last quarter. Franklin Resources Inc. grew its stake in BigCommerce by 16.4% in the 4th quarter. Franklin Resources Inc. now owns 2,000,211 shares of the company’s stock worth $19,462,000 after acquiring an additional 282,380 shares during the period. Clearbridge Investments LLC raised its holdings in BigCommerce by 8.0% in the 2nd quarter. Clearbridge Investments LLC now owns 1,433,163 shares of the company’s stock valued at $11,551,000 after acquiring an additional 106,080 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of BigCommerce by 10.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,061,800 shares of the company’s stock worth $7,316,000 after purchasing an additional 102,100 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.

BigCommerce Price Performance

Shares of BIGC stock traded up $0.18 during trading hours on Wednesday, hitting $6.29. The company’s stock had a trading volume of 280,565 shares, compared to its average volume of 713,977. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 13.04. The business has a fifty day moving average of $6.55 and a 200-day moving average of $7.00. BigCommerce has a twelve month low of $5.35 and a twelve month high of $10.43. The stock has a market cap of $486.06 million, a price-to-earnings ratio of -9.55 and a beta of 0.98.

BigCommerce (NASDAQ:BIGC) last announced its earnings results on Thursday, August 1st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. The firm had revenue of $81.83 million for the quarter, compared to analysts’ expectations of $81.13 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. BigCommerce’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that BigCommerce will post -0.3 EPS for the current year.

About BigCommerce

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.