BigBear.ai (NYSE:BBAI) Shares Down 2.8% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI) dropped 2.8% on Friday . The stock traded as low as $2.94 and last traded at $2.98. Approximately 8,714,686 shares traded hands during trading, a decline of 61% from the average daily volume of 22,125,322 shares. The stock had previously closed at $3.06.

Analyst Upgrades and Downgrades

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

BigBear.ai Stock Performance

The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06. The company has a market cap of $861.15 million, a price-to-earnings ratio of -3.32 and a beta of 3.12. The firm’s 50-day moving average price is $5.11 and its 200 day moving average price is $3.31.

Insider Activity

In related news, CAO Sean Raymond Ricker sold 36,166 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $3.65, for a total value of $132,005.90. Following the completion of the sale, the chief accounting officer now owns 223,070 shares in the company, valued at approximately $814,205.50. This represents a 13.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Amanda Long sold 66,140 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.50, for a total value of $297,630.00. Following the transaction, the chief executive officer now owns 2,445,449 shares in the company, valued at approximately $11,004,520.50. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,119 shares of company stock valued at $629,502 in the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. bought a new position in shares of BigBear.ai in the 4th quarter valued at about $40,000. Simon Quick Advisors LLC bought a new position in BigBear.ai in the fourth quarter valued at approximately $44,000. Captrust Financial Advisors acquired a new position in shares of BigBear.ai during the 4th quarter worth approximately $45,000. Retirement Income Solutions Inc bought a new stake in shares of BigBear.ai during the 4th quarter worth approximately $47,000. Finally, Bay Rivers Group acquired a new stake in shares of BigBear.ai in the 4th quarter valued at approximately $48,000. Institutional investors own 7.55% of the company’s stock.

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.