BigBear.ai (NYSE:BBAI) Trading Up 9.6% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price was up 9.6% on Monday . The company traded as high as $3.50 and last traded at $3.41. Approximately 23,667,060 shares were traded during trading, an increase of 136% from the average daily volume of 10,009,392 shares. The stock had previously closed at $3.11.

Analyst Ratings Changes

BBAI has been the subject of several analyst reports. 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 reissued a “buy” rating and set a $3.00 target price on shares of BigBear.ai in a research note on Wednesday, November 6th.

BigBear.ai Trading Up 16.9 %

The firm has a 50-day moving average of $2.24 and a 200 day moving average of $1.74. The company has a market cap of $934.69 million, a P/E ratio of -4.10 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 analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $41.51 million for the quarter, compared to analysts’ expectations of $45.04 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. On average, analysts predict that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total transaction of $1,019,614.26. Following the transaction, the director now directly owns 143,713,297 shares of the company’s stock, valued at approximately $255,809,668.66. This represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On BigBear.ai

A number of hedge funds have recently added to or reduced their stakes in the company. Sovereign Financial Group Inc. acquired a new position in shares of BigBear.ai during the third quarter worth approximately $36,000. XTX Topco Ltd bought a new stake in BigBear.ai during the 2nd quarter valued at $58,000. Intech Investment Management LLC acquired a new position in BigBear.ai during the third quarter worth $61,000. The Manufacturers Life Insurance Company lifted its stake 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 valued at $62,000 after buying an additional 23,597 shares in the last quarter. Finally, Fortis Group Advisors LLC grew 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 valued at $101,000 after buying an additional 14,134 shares during the last quarter. Institutional investors and hedge funds 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.