BigBear.ai (NYSE:BBAI) Stock Price Up 9.6% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) rose 9.6% during trading on Monday . The company traded as high as $3.50 and last traded at $3.41. Approximately 23,667,060 shares were traded during mid-day trading, an increase of 136% from the average daily volume of 10,009,392 shares. The stock had previously closed at $3.11.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BBAI. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.50 price target on shares of BigBear.ai in a research note on Wednesday, November 6th. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Stock Performance

The stock has a fifty day simple moving average of $2.24 and a two-hundred day simple moving average of $1.74. 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 stock has a market cap of $934.69 million, a price-to-earnings ratio of -4.10 and a beta of 3.58.

BigBear.ai (NYSE:BBAI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The business had revenue of $41.51 million during the quarter, compared to the consensus estimate of $45.04 million. During the same period in the prior year, the company earned $0.03 EPS. BigBear.ai’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts expect that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total value of $1,019,614.26. Following the completion of the transaction, the director now directly owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. This represents a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BigBear.ai

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sovereign Financial Group Inc. acquired a new stake in shares of BigBear.ai during the third quarter valued at about $36,000. XTX Topco Ltd bought a new position in BigBear.ai in the 2nd quarter valued at approximately $58,000. Intech Investment Management LLC acquired a new stake in BigBear.ai during the 3rd quarter worth approximately $61,000. The Manufacturers Life Insurance Company grew its holdings in BigBear.ai by 135.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock worth $62,000 after acquiring an additional 23,597 shares during the last quarter. Finally, Fortis Group Advisors LLC grew its holdings in BigBear.ai by 26.9% during the 2nd quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock worth $101,000 after acquiring an additional 14,134 shares during the last quarter. Institutional investors own 7.55% of the company’s stock.

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.