BigBear.ai (NYSE:BBAI) Stock Price Down 7% – Here’s Why

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) dropped 7% during trading on Thursday . The stock traded as low as $2.80 and last traded at $2.91. Approximately 50,596,940 shares were traded 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 analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.50 price target on shares of BigBear.ai in a research note on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and issued a $3.00 price target on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Stock Performance

The firm has a market capitalization of $724.19 million, a P/E ratio of -3.18 and a beta of 3.58. The stock’s 50 day moving average is $2.12 and its two-hundred day moving average is $1.69. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06.

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

Insider Buying and Selling

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the firm’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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BigBear.ai

A number of hedge funds have recently bought and sold shares of the business. Fortis Group Advisors LLC raised its position in shares of BigBear.ai by 26.9% in the 2nd quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock valued at $101,000 after buying an additional 14,134 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of BigBear.ai by 57.9% in the 3rd quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock valued at $89,000 after purchasing an additional 22,363 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of BigBear.ai by 135.0% in the 2nd 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. Sovereign Financial Group Inc. acquired a new position in shares of BigBear.ai during the 3rd quarter worth $36,000. Finally, Intech Investment Management LLC bought a new stake in shares of BigBear.ai during the 3rd quarter worth $61,000. 7.55% of the stock is owned by institutional investors.

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.