BigBear.ai (NYSE:BBAI) Trading Down 6.4% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price traded down 6.4% during trading on Tuesday . The stock traded as low as $4.46 and last traded at $4.50. 36,132,066 shares were traded during mid-day trading, an increase of 221% from the average session volume of 11,271,646 shares. The stock had previously closed at $4.81.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BBAI. Cantor Fitzgerald restated an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a report on Wednesday, November 6th. HC Wainwright upped their price target on shares of BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Monday.

BigBear.ai Price Performance

The company has a fifty day simple moving average of $2.55 and a 200 day simple moving average of $1.86. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.89 and a beta of 3.58. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06.

BigBear.ai (NYSE:BBAI) last released its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $41.51 million for the quarter, compared to analyst estimates of $45.04 million. BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. BigBear.ai’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Equities research analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Transactions at BigBear.ai

In other news, CEO Amanda Long sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total transaction of $850,000.00. Following the transaction, the chief executive officer now directly owns 2,583,254 shares of the company’s stock, valued at $10,978,829.50. This represents a 7.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of BigBear.ai stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total transaction of $1,019,614.26. Following the completion of the sale, the director now directly owns 143,713,297 shares of the company’s stock, valued at approximately $255,809,668.66. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 782,892 shares of company stock valued at $1,887,246 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBAI. Geode Capital Management LLC lifted its position in shares of BigBear.ai by 28.6% during 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 in the last quarter. State Street Corp lifted its position in shares of BigBear.ai by 16.8% during the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock worth $2,723,000 after buying an additional 267,673 shares in the last quarter. Bank of Montreal Can boosted 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 buying an additional 643,570 shares during the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $465,000 after acquiring an additional 189,593 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of BigBear.ai by 310.3% during the 3rd quarter. Barclays PLC now owns 141,766 shares of the company’s stock worth $208,000 after purchasing an additional 107,214 shares during the period. Institutional investors own 7.55% of the company’s stock.

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.