Short Interest in BigCommerce Holdings, Inc. (NASDAQ:BIGC) Decreases By 8.8%

BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 7,850,000 shares, a decline of 8.8% from the October 31st total of 8,610,000 shares. Based on an average daily trading volume, of 1,040,000 shares, the days-to-cover ratio is presently 7.5 days. Approximately 12.5% of the shares of the company are sold short.

BigCommerce Stock Performance

Shares of BigCommerce stock traded up $0.20 on Tuesday, hitting $7.47. 296,197 shares of the company’s stock traded hands, compared to its average volume of 803,085. BigCommerce has a one year low of $5.13 and a one year high of $10.19. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The firm’s 50-day moving average price is $5.96 and its two-hundred day moving average price is $6.72.

Hedge Funds Weigh In On BigCommerce

Several institutional investors have recently modified their holdings of BIGC. Canada Pension Plan Investment Board bought a new position in BigCommerce during the 2nd quarter worth approximately $35,000. Virtu Financial LLC bought a new position in shares of BigCommerce during the third quarter worth $61,000. AQR Capital Management LLC acquired a new position in shares of BigCommerce in the 2nd quarter valued at $121,000. HighTower Advisors LLC increased its position in shares of 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 buying an additional 2,200 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in BigCommerce during the 3rd quarter worth $920,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BIGC shares. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of BigCommerce in a report on Thursday, October 3rd. Bank of America dropped their price target on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, August 29th. Barclays decreased their price objective on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, Stifel Nicolaus cut their target price on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.81.

About BigCommerce

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.