BigBear.ai (NYSE:BBAI) Stock Price Down 7.8% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI) was down 7.8% on Wednesday . The company traded as low as $3.23 and last traded at $3.24. Approximately 13,960,282 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 21,984,977 shares. The stock had previously closed at $3.51.

Analyst Upgrades and Downgrades

Several research firms recently commented on BBAI. Northland Securities lowered shares of BigBear.ai from an “outperform” rating to a “market perform” rating and increased their target price for the company from $2.50 to $4.00 in a research note on Friday, March 7th. Northland Capmk lowered shares of BigBear.ai from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 7th. HC Wainwright dropped their target price on shares of BigBear.ai from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Finally, Cantor Fitzgerald cut their price target on shares of BigBear.ai from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Friday, March 7th.

BigBear.ai Stock Down 9.3 %

The firm has a 50-day moving average of $5.14 and a two-hundred day moving average of $3.31. The stock has a market capitalization of $907.30 million, a price-to-earnings ratio of -3.50 and a beta of 3.12. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08.

Insider Activity

In other news, CEO Amanda Long sold 200,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $4.25, for a total transaction of $850,000.00. Following the transaction, the chief executive officer now directly owns 2,583,254 shares in the company, valued at $10,978,829.50. The trade was a 7.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sean Bernard Battle sold 44,813 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total transaction of $199,865.98. Following the completion of the transaction, the director now directly owns 137,838 shares in the company, valued at $614,757.48. This trade represents a 24.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 310,953 shares of company stock worth $1,347,496 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its holdings in BigBear.ai by 16.8% in the third quarter. State Street Corp now owns 1,864,815 shares of the company’s stock worth $2,723,000 after buying an additional 267,673 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 479,401 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of BigBear.ai during the 4th quarter worth $325,000. Barclays PLC raised its holdings in shares of BigBear.ai by 310.3% during the 3rd quarter. Barclays PLC now owns 141,766 shares of the company’s stock valued at $208,000 after purchasing an additional 107,214 shares in the last quarter. Finally, Sargent Investment Group LLC acquired a new stake in shares of BigBear.ai in the 4th quarter valued at $1,028,000. 7.55% of the stock is 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.