BigBear.ai (NYSE:BBAI) Shares Down 7% – What’s Next?

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price traded down 7% on Thursday . The stock traded as low as $2.80 and last traded at $2.91. 50,596,940 shares were traded during mid-day trading, an increase of 421% from the average session volume of 9,703,420 shares. The stock had previously closed at $3.13.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a report on Wednesday, November 6th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of BigBear.ai in a research note on Wednesday, November 6th.

BigBear.ai Trading Down 7.7 %

The firm has a market cap of $724.19 million, a price-to-earnings ratio of -3.18 and a beta of 3.58. The business has a fifty day moving average of $2.12 and a two-hundred day moving average of $1.69. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06.

BigBear.ai (NYSE:BBAI) last posted its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $41.51 million for the quarter, compared to analyst estimates of $45.04 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. BigBear.ai’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. As a group, equities analysts expect that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at BigBear.ai

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total value of $1,019,614.26. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

Institutional investors and 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% in the third quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock valued at $3,152,000 after purchasing an additional 479,401 shares during the period. State Street Corp increased its stake in BigBear.ai by 16.8% during 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 during the period. Bank of Montreal Can boosted its position in shares of BigBear.ai by 6,435.7% during the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock valued at $1,006,000 after purchasing an additional 643,570 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in BigBear.ai by 160.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company’s stock worth $465,000 after buying an additional 189,593 shares during the period. Finally, Barclays PLC raised its position in BigBear.ai by 310.3% during the third quarter. Barclays PLC now owns 141,766 shares of the company’s stock valued at $208,000 after buying an additional 107,214 shares during the period. Hedge funds and other 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.