BigBear.ai (NYSE:BBAI) Price Target Cut to $3.00 by Analysts at HC Wainwright

BigBear.ai (NYSE:BBAI) had its price objective cut by HC Wainwright from $5.00 to $3.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

BigBear.ai Trading Down 7.8 %

NYSE:BBAI opened at $1.24 on Friday. BigBear.ai has a 12-month low of $1.16 and a 12-month high of $4.80. The firm has a market capitalization of $303.90 million, a P/E ratio of -1.37 and a beta of 3.52. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.98 and a quick ratio of 1.98. The business has a 50 day simple moving average of $1.45 and a 200 day simple moving average of $1.80.

BigBear.ai (NYSE:BBAI) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $39.78 million for the quarter, compared to analyst estimates of $46.55 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts predict that BigBear.ai will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other BigBear.ai news, Director Pamela Joyce Braden purchased 140,939 shares of BigBear.ai stock in a transaction on Monday, June 3rd. The stock was bought at an average price of $1.49 per share, for a total transaction of $209,999.11. Following the transaction, the director now owns 446,396 shares of the company’s stock, valued at approximately $665,130.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in shares of BigBear.ai by 206.2% in the 2nd quarter. Rhumbline Advisers now owns 101,963 shares of the company’s stock worth $154,000 after buying an additional 68,663 shares in the last quarter. Fortis Group Advisors LLC raised its stake in shares of BigBear.ai by 26.9% in the 2nd quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock worth $101,000 after buying an additional 14,134 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of BigBear.ai by 160.5% in 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 in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of BigBear.ai in the 2nd quarter worth $32,000. Finally, Keynote Financial Services LLC bought a new stake in shares of BigBear.ai in the 1st quarter worth $45,000. Institutional investors and hedge funds 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.