BigBear.ai (NYSE:BBAI) Shares Up 2.6% After Analyst Upgrade

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares traded up 2.6% 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. BigBear.ai traded as high as $4.48 and last traded at $4.32. 22,626,601 shares changed hands during trading, an increase of 106% from the average session volume of 10,969,085 shares. The stock had previously closed at $4.21.

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $3.50 price objective on shares of BigBear.ai in a research report on Wednesday, November 6th.

Insider Activity

In other news, CEO Amanda Long sold 200,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $4.25, for a total transaction of $850,000.00. Following the completion of the transaction, the chief executive officer now owns 2,583,254 shares in the company, valued at $10,978,829.50. This trade represents a 7.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of BigBear.ai 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 completion of the sale, the director now directly owns 143,713,297 shares in the company, valued at $255,809,668.66. This trade represents a 0.40 % 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 quarter. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

Several institutional investors have recently added to or reduced their stakes in the company. Sovereign Financial Group Inc. bought a new position in shares of BigBear.ai during the 3rd quarter valued at approximately $36,000. XTX Topco Ltd purchased a new stake in BigBear.ai during the second quarter valued at $58,000. Intech Investment Management LLC bought a new position in BigBear.ai during the third quarter valued at $61,000. The Manufacturers Life Insurance Company lifted its position in BigBear.ai by 135.0% during 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 during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new position in shares of BigBear.ai in the 3rd quarter worth $131,000. Hedge funds and other institutional investors own 7.55% of the company’s stock.

BigBear.ai Stock 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 business’s fifty day moving average price is $2.38 and its two-hundred day moving average price is $1.80. The stock has a market capitalization of $1.21 billion, a P/E ratio of -5.29 and a beta of 3.58.

BigBear.ai (NYSE:BBAI) last issued its quarterly earnings data 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. The company had revenue of $41.51 million for the quarter, compared to analysts’ expectations of $45.04 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. As a group, sell-side analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

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.