BigBear.ai (NYSE:BBAI) Trading Down 7% – What’s Next?

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price was down 7% during mid-day trading on Thursday . The stock traded as low as $2.80 and last traded at $2.91. Approximately 50,596,940 shares changed hands during mid-day trading, an increase of 421% from the average daily volume of 9,703,420 shares. The stock had previously closed at $3.13.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of BigBear.ai in a report on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.50 price objective on shares of BigBear.ai in a research note on Wednesday, November 6th.

BigBear.ai Stock Performance

The company’s 50-day moving average price is $2.14 and its two-hundred day moving average price is $1.69. The company has a market cap of $779.32 million, a P/E ratio of -3.42 and a beta of 3.58. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08.

BigBear.ai (NYSE:BBAI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm 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%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 earnings per share. As a group, equities analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Activity

In other news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 143,713,297 shares in the company, valued at $255,809,668.66. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of BigBear.ai

A number of hedge funds have recently modified their holdings of BBAI. Sovereign Financial Group Inc. acquired a new position in BigBear.ai during the third quarter valued at $36,000. XTX Topco Ltd purchased a new position in BigBear.ai during the 2nd quarter valued at about $58,000. Intech Investment Management LLC acquired a new position in shares of BigBear.ai in the 3rd quarter valued at about $61,000. The Manufacturers Life Insurance Company lifted its position in shares of BigBear.ai by 135.0% in the second quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock worth $62,000 after purchasing an additional 23,597 shares in the last quarter. Finally, Fortis Group Advisors LLC boosted its holdings in shares of BigBear.ai by 26.9% during the second quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock worth $101,000 after purchasing an additional 14,134 shares during the period. Hedge funds and other institutional investors own 7.55% of the company’s stock.

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.