BigBear.ai (NYSE:BBAI) Shares Gap Up – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $4.41, but opened at $4.60. BigBear.ai shares last traded at $4.64, with a volume of 9,556,640 shares.

Analyst Ratings Changes

BBAI has been the topic of several analyst reports. HC Wainwright upped their price target on shares of BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a report on Monday, December 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.50 price target on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Stock Up 1.5 %

The company’s 50 day moving average is $3.13 and its 200 day moving average is $2.10. The company has a market cap of $1.13 billion, a PE ratio of -4.88 and a beta of 3.21. 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 issued its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The business had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. During the same period in the previous year, the company posted $0.03 EPS. BigBear.ai’s revenue was up 22.1% on a year-over-year basis. As a group, analysts predict that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Amanda Long sold 66,140 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.50, for a total transaction of $297,630.00. Following the transaction, the chief executive officer now directly owns 2,445,449 shares of the company’s stock, valued at approximately $11,004,520.50. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBAI. Sovereign Financial Group Inc. purchased a new position in shares of BigBear.ai in the third quarter worth about $36,000. Simon Quick Advisors LLC acquired a new stake in BigBear.ai during the 4th quarter valued at approximately $44,000. XTX Topco Ltd purchased a new stake in shares of BigBear.ai in the 2nd quarter valued at $58,000. Intech Investment Management LLC acquired a new stake in shares of BigBear.ai in the third quarter worth $61,000. Finally, The Manufacturers Life Insurance Company increased 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 worth $62,000 after acquiring an additional 23,597 shares during the period. 7.55% of the stock is currently owned by hedge funds and other institutional investors.

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.