BigBear.ai (NYSE:BBAI) Trading Down 21% After Analyst Downgrade

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price dropped 21% on Friday after Northland Securities downgraded the stock from an outperform rating to a market perform rating. Northland Securities now has a $4.00 price target on the stock, up from their previous price target of $2.50. BigBear.ai traded as low as $3.13 and last traded at $3.32. 41,176,952 shares traded hands during mid-day trading, an increase of 96% from the average daily volume of 20,966,953 shares. The stock had previously closed at $4.20.

Separately, HC Wainwright reduced their price objective on shares of BigBear.ai from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday.

Insider Buying and Selling at BigBear.ai

In other BigBear.ai news, Director Sean Bernard Battle sold 44,813 shares of BigBear.ai stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.46, for a total value of $199,865.98. Following the sale, the director now directly owns 137,838 shares in the company, valued at approximately $614,757.48. The trade was a 24.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amanda Long sold 66,140 shares of BigBear.ai stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.50, for a total value of $297,630.00. Following the sale, the chief executive officer now owns 2,445,449 shares of the company’s stock, valued at approximately $11,004,520.50. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 310,953 shares of company stock valued at $1,347,496. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BBAI. AE Industrial Partners LP acquired a new position in shares of BigBear.ai in the fourth quarter worth about $284,721,000. TFG Asset Management GP Ltd acquired a new stake in shares of BigBear.ai in the fourth quarter valued at $4,005,000. Soviero Asset Management LP acquired a new position in shares of BigBear.ai during the fourth quarter worth about $3,248,000. Geode Capital Management LLC lifted its holdings in BigBear.ai by 28.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock worth $3,152,000 after buying an additional 479,401 shares during the last quarter. Finally, State Street Corp raised its stake in BigBear.ai by 16.8% during the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock worth $2,723,000 after acquiring an additional 267,673 shares in the last quarter. Hedge funds and other institutional investors own 7.55% of the company’s stock.

BigBear.ai Trading Down 21.3 %

The business has a 50-day moving average of $5.32 and a 200-day moving average of $3.12. The stock has a market capitalization of $941.48 million, a price-to-earnings ratio of -3.65 and a beta of 3.12. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06.

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.