BigBear.ai (NYSE:BBAI) Shares Down 1.5% – Here’s Why

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) dropped 1.5% during mid-day trading on Monday . The stock traded as low as $3.78 and last traded at $4.18. Approximately 11,188,867 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 33,254,488 shares. The stock had previously closed at $4.24.

Analysts Set New Price Targets

A number of research firms have commented on BBAI. HC Wainwright lifted their target price on BigBear.ai from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.50 price target on shares of BigBear.ai in a research note on Wednesday, November 6th.

BigBear.ai Trading Up 45.4 %

The stock has a 50 day moving average price of $3.56 and a 200-day moving average price of $2.28. 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 stock has a market capitalization of $1.80 billion, a PE ratio of -7.84 and a beta of 3.17.

BigBear.ai (NYSE:BBAI) last announced 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 net margin of 109.90% and a negative return on equity of 138.35%. The company had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. During the same period in the previous year, the business posted $0.03 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts expect that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Transactions at BigBear.ai

In other news, Director Sean Bernard Battle sold 44,813 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total value of $199,865.98. Following the completion of the transaction, the director now owns 137,838 shares of the company’s stock, valued at $614,757.48. This represents a 24.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amanda Long sold 200,000 shares of BigBear.ai stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $4.25, for a total value of $850,000.00. Following the sale, the chief executive officer now directly owns 2,583,254 shares in the company, valued at $10,978,829.50. This trade represents a 7.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 310,953 shares of company stock valued at $1,347,496 over the last quarter. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in BigBear.ai by 135.0% during the second quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock valued at $62,000 after purchasing an additional 23,597 shares during the last quarter. Sovereign Financial Group Inc. bought a new stake in BigBear.ai during the third quarter worth approximately $36,000. Koshinski Asset Management Inc. bought a new stake in BigBear.ai during the third quarter worth approximately $131,000. Intech Investment Management LLC purchased a new stake in BigBear.ai during the third quarter valued at approximately $61,000. Finally, State Street Corp boosted its holdings 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 purchasing an additional 267,673 shares during the period. Hedge funds and other 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.