BigCommerce Holdings, Inc. (NASDAQ:BIGC) Short Interest Update

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 5,570,000 shares, a drop of 14.6% from the December 31st total of 6,520,000 shares. Based on an average daily trading volume, of 901,100 shares, the days-to-cover ratio is presently 6.2 days. Currently, 8.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

BigCommerce Stock Performance

BigCommerce stock traded down $0.16 during trading hours on Friday, hitting $6.09. 263,341 shares of the stock traded hands, compared to its average volume of 664,956. BigCommerce has a 1 year low of $5.13 and a 1 year high of $8.98. The stock has a market capitalization of $476.94 million, a price-to-earnings ratio of -16.90 and a beta of 1.18. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. The firm’s 50 day moving average price is $6.64 and its 200-day moving average price is $6.31.

Hedge Funds Weigh In On BigCommerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in BigCommerce in the 3rd quarter worth about $61,000. Sanctuary Advisors LLC purchased a new stake in shares of BigCommerce during the fourth quarter worth approximately $66,000. AQR Capital Management LLC purchased a new stake in shares of BigCommerce during the second quarter worth approximately $121,000. HighTower Advisors LLC raised its stake in BigCommerce by 16.8% in the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after purchasing an additional 2,200 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in BigCommerce in the 3rd quarter valued at $920,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

BigCommerce Company Profile

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.