BigCommerce (NASDAQ:BIGC) Shares Down 3.5% – Here’s What Happened

BigCommerce Holdings, Inc. (NASDAQ:BIGC)’s share price was down 3.5% during trading on Wednesday . The company traded as low as $6.39 and last traded at $6.40. Approximately 24,791 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 646,872 shares. The stock had previously closed at $6.63.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BIGC. Barclays downgraded BigCommerce from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $8.00 to $7.00 in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of BigCommerce in a research note on Monday, December 9th. Finally, Stifel Nicolaus lowered their price objective on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.31.

BigCommerce Stock Down 3.6 %

The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The company has a market capitalization of $489.09 million, a price-to-earnings ratio of -17.33 and a beta of 1.18. The business’s 50-day moving average is $6.64 and its 200-day moving average is $6.31.

Hedge Funds Weigh In On BigCommerce

Institutional investors and hedge funds have recently modified their holdings of the stock. Clearline Capital LP raised its position in BigCommerce by 69.7% during the third quarter. Clearline Capital LP now owns 1,611,619 shares of the company’s stock valued at $9,428,000 after acquiring an additional 661,688 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of BigCommerce by 196.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,745 shares of the company’s stock worth $2,268,000 after purchasing an additional 256,783 shares during the period. Algert Global LLC increased its holdings in shares of BigCommerce by 67.7% during the 3rd quarter. Algert Global LLC now owns 449,072 shares of the company’s stock valued at $2,627,000 after purchasing an additional 181,222 shares in the last quarter. 272 Capital LP lifted its stake in shares of BigCommerce by 19.9% in the 3rd quarter. 272 Capital LP now owns 1,060,455 shares of the company’s stock valued at $6,204,000 after purchasing an additional 175,705 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in BigCommerce by 16.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,079,973 shares of the company’s stock worth $6,318,000 after buying an additional 150,260 shares in the last quarter. Institutional investors and hedge funds 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.