BigCommerce Holdings, Inc. (NASDAQ:BIGC) Short Interest Down 5.8% in September

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 8,500,000 shares, a drop of 5.8% from the August 31st total of 9,020,000 shares. Based on an average trading volume of 823,600 shares, the short-interest ratio is currently 10.3 days. Approximately 13.6% of the company’s stock are short sold.

Analysts Set New Price Targets

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

BigCommerce Stock Performance

BIGC stock traded down $0.11 during trading on Monday, hitting $5.97. The company had a trading volume of 328,970 shares, compared to its average volume of 777,354. The firm has a 50-day moving average price of $6.23 and a 200-day moving average price of $6.92. The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 13.04. The firm has a market cap of $461.33 million, a PE ratio of -9.73 and a beta of 0.98. BigCommerce has a 1-year low of $5.35 and a 1-year high of $10.29.

BigCommerce (NASDAQ:BIGC) last released its earnings results on Thursday, August 1st. The company reported $0.05 earnings per share (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 business had revenue of $81.83 million for the quarter, compared to analyst estimates of $81.13 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts expect that BigCommerce will post -0.3 earnings per share for the current year.

Institutional Trading of BigCommerce

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in BigCommerce by 5.9% in the first quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock valued at $70,817,000 after purchasing an additional 572,396 shares during the period. Cadian Capital Management LP raised its position in BigCommerce by 13.6% in 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 in the last quarter. Clearbridge Investments LLC boosted its position in shares of BigCommerce by 8.0% during the 2nd quarter. Clearbridge Investments LLC now owns 1,433,163 shares of the company’s stock worth $11,551,000 after purchasing an additional 106,080 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew 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. Finally, Norges Bank acquired a new position in BigCommerce during the fourth quarter worth about $10,236,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.

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.