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

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) gapped down before the market opened on Monday . The stock had previously closed at $4.24, but opened at $3.83. BigBear.ai shares last traded at $4.04, with a volume of 7,766,182 shares.

Wall Street Analysts Forecast Growth

BBAI has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a research report on Wednesday, November 6th. HC Wainwright upped their price target on BigBear.ai from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 30th.

BigBear.ai Stock Performance

The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08. The firm has a 50-day moving average of $3.46 and a 200-day moving average of $2.24. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.65 and a beta of 3.17.

BigBear.ai (NYSE:BBAI) last released its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $41.51 million for the quarter, compared to the consensus estimate of $45.04 million. During the same period in the prior year, the firm earned $0.03 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. As a group, sell-side analysts predict that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Activity at BigBear.ai

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

Institutional Investors Weigh In On BigBear.ai

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted 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 acquiring an additional 479,401 shares in the last quarter. State Street Corp lifted its stake in BigBear.ai by 16.8% in the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock valued at $2,723,000 after buying an additional 267,673 shares in the last quarter. Bank of Montreal Can lifted its stake in BigBear.ai by 6,435.7% in the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock valued at $1,006,000 after buying an additional 643,570 shares in the last quarter. Sargent Investment Group LLC purchased a new position in BigBear.ai in the 4th quarter valued at about $1,028,000. Finally, Sovereign Financial Group Inc. lifted its stake in BigBear.ai by 699.3% in the 4th quarter. Sovereign Financial Group Inc. now owns 199,815 shares of the company’s stock valued at $889,000 after buying an additional 174,815 shares in the last quarter. 7.55% of the stock is owned by hedge funds and other institutional investors.

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.