BigCommerce Holdings, Inc. (NASDAQ:BIGC) Short Interest Down 8.8% in November

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 7,850,000 shares, a decrease of 8.8% from the October 31st total of 8,610,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is presently 7.5 days. Currently, 12.5% of the company’s stock are short sold.

Institutional Investors Weigh In On BigCommerce

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in BigCommerce by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock worth $70,817,000 after acquiring an additional 572,396 shares during the period. Franklin Resources Inc. increased its position in shares of BigCommerce by 1.8% in the third quarter. Franklin Resources Inc. now owns 1,932,149 shares of the company’s stock worth $10,859,000 after purchasing an additional 35,016 shares during the period. Clearline Capital LP raised its stake in BigCommerce by 69.7% in the third quarter. Clearline Capital LP now owns 1,611,619 shares of the company’s stock valued at $9,428,000 after purchasing an additional 661,688 shares in the last quarter. Geode Capital Management LLC lifted its position in BigCommerce by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock worth $9,363,000 after purchasing an additional 21,105 shares during the period. Finally, State Street Corp lifted its position in BigCommerce by 1.1% during the third quarter. State Street Corp now owns 1,522,002 shares of the company’s stock worth $8,904,000 after purchasing an additional 16,561 shares during the period. 79.21% of the stock is currently owned by institutional investors and hedge funds.

BigCommerce Price Performance

Shares of BIGC stock traded up $0.20 on Tuesday, hitting $7.47. The company’s stock had a trading volume of 296,197 shares, compared to its average volume of 803,085. BigCommerce has a fifty-two week low of $5.13 and a fifty-two week high of $10.19. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The stock’s 50 day moving average is $5.96 and its 200-day moving average is $6.72.

Analyst Ratings Changes

A number of equities analysts have issued reports on BIGC shares. Stifel Nicolaus lowered their target price on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of BigCommerce in a research report on Thursday, October 3rd. Barclays reduced their price target on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Finally, Bank of America lowered their price objective on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.81.

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.