BigBear.ai (NYSE:BBAI) Shares Gap Up – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $3.11, but opened at $3.20. BigBear.ai shares last traded at $3.23, with a volume of 15,323,596 shares.

Analyst Upgrades and Downgrades

BBAI has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of BigBear.ai in a research report on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Price Performance

The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06. The stock has a market capitalization of $934.69 million, a price-to-earnings ratio of -4.10 and a beta of 3.58. The company has a 50 day moving average of $2.24 and a 200 day moving average of $1.74.

BigBear.ai (NYSE:BBAI) last issued its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share 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 for the quarter, compared to analysts’ expectations of $45.04 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm’s revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts anticipate that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Activity at BigBear.ai

In related news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total transaction of $1,019,614.26. Following the transaction, the director now owns 143,713,297 shares in the company, valued at $255,809,668.66. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of BigBear.ai

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

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.