BigBear.ai (NYSE:BBAI) Trading Down 6.7% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI) fell 6.7% on Friday . The company traded as low as $2.70 and last traded at $2.84. 21,596,909 shares were traded during mid-day trading, a decline of 5% from the average session volume of 22,765,053 shares. The stock had previously closed at $3.04.

Wall Street Analyst Weigh In

BBAI has been the subject of several analyst reports. HC Wainwright lowered their target price on BigBear.ai from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Northland Securities downgraded BigBear.ai from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $2.50 to $4.00 in a research report on Friday, March 7th. Cantor Fitzgerald reduced their target price on BigBear.ai from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, Northland Capmk lowered shares of BigBear.ai from a “strong-buy” rating to a “hold” rating in a report on Friday, March 7th.

BigBear.ai Stock Down 6.4 %

The firm has a market cap of $822.22 million, a price-to-earnings ratio of -3.13 and a beta of 3.34. The firm has a 50 day moving average of $4.97 and a 200 day moving average of $3.38. 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 Transactions at BigBear.ai

In other news, CAO Sean Raymond Ricker sold 36,166 shares of the firm’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 directly owns 223,070 shares in the company, valued at $814,205.50. This trade represents a 13.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amanda Long sold 66,140 shares of the company’s stock in a transaction that occurred on 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 directly owns 2,445,449 shares in the company, valued at approximately $11,004,520.50. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,372 shares of company stock valued at $435,627 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BBAI. AE Industrial Partners LP acquired a new position in BigBear.ai during the 4th quarter valued at about $284,721,000. TFG Asset Management GP Ltd purchased a new stake in BigBear.ai in the 4th quarter valued at $4,005,000. Soviero Asset Management LP bought a new position in BigBear.ai during the 4th quarter valued at $3,248,000. Geode Capital Management LLC lifted its stake in BigBear.ai by 28.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock valued at $3,152,000 after acquiring an additional 479,401 shares in the last quarter. Finally, State Street Corp grew its stake in shares of BigBear.ai by 16.8% in the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock worth $2,723,000 after acquiring an additional 267,673 shares in the last quarter. Institutional investors and hedge funds 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.