BigBear.ai (NYSE:BBAI) Hits New 12-Month Low – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $2.07 and last traded at $2.1750, with a volume of 12,137,661 shares traded. The stock had previously closed at $2.12.

Wall Street Analysts Forecast Growth

BBAI has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of BigBear.ai in a research note on Thursday, October 15th. Cantor Fitzgerald lowered their price objective on BigBear.ai from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Finally, Wall Street Zen cut BigBear.ai from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.00.

BigBear.ai Stock Performance

The stock has a fifty day moving average price of $2.76 and a two-hundred day moving average price of $3.37. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -10.12 and a beta of 3.37. The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 0.01.

BigBear.ai (NYSE:BBAI) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). BigBear.ai had a negative net margin of 65.20% and a negative return on equity of 13.44%. The company had revenue of $36.75 million for the quarter, compared to analysts’ expectations of $36.37 million. During the same period last year, the company earned ($0.71) EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, analysts forecast that BigBear.ai Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On BigBear.ai

Several hedge funds have recently modified their holdings of BBAI. Principal Financial Group Inc. boosted its holdings in shares of BigBear.ai by 11.8% in the 1st quarter. Principal Financial Group Inc. now owns 22,698 shares of the company’s stock valued at $80,000 after purchasing an additional 2,391 shares during the last quarter. Kestra Advisory Services LLC lifted its position in BigBear.ai by 29.2% during the first quarter. Kestra Advisory Services LLC now owns 18,424 shares of the company’s stock valued at $65,000 after buying an additional 4,159 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in BigBear.ai by 77.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,756 shares of the company’s stock valued at $74,000 after buying an additional 5,987 shares in the last quarter. Bank of New York Mellon Corp grew its stake in BigBear.ai by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 1,264,406 shares of the company’s stock worth $4,451,000 after buying an additional 6,365 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of BigBear.ai by 34.2% in the first quarter. Sanctuary Advisors LLC now owns 25,517 shares of the company’s stock worth $90,000 after acquiring an additional 6,506 shares in the last quarter. 7.55% of the stock is owned by institutional investors and hedge funds.

BigBear.ai Company Profile

BigBear.ai Holdings, Inc (NYSE: BBAI) is an artificial intelligence company that develops decision-intelligence solutions for government and commercial organizations. Its technologies are designed to help customers analyze complex data, identify risks and opportunities, and support planning and operational decision-making.

The company provides artificial intelligence and machine-learning capabilities across areas such as supply-chain management, cyber operations, logistics, autonomous systems, predictive analytics, and computer vision.