BigBear.ai (NYSE:BBAI) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

BigBear.ai (NYSE:BBAI) announced its quarterly earnings data on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02, Briefing.com reports. The firm had revenue of $41.51 million for the quarter, compared to the consensus estimate of $45.04 million. BigBear.ai had a negative net margin of 104.53% and a negative return on equity of 295.34%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. BigBear.ai updated its FY 2024 guidance to EPS.

BigBear.ai Price Performance

Shares of BigBear.ai stock traded down $0.19 during midday trading on Wednesday, hitting $1.58. 4,092,212 shares of the company traded hands, compared to its average volume of 6,555,074. The firm’s fifty day moving average price is $1.58 and its 200-day moving average price is $1.51. The stock has a market cap of $393.86 million, a price-to-earnings ratio of -1.88 and a beta of 3.46. BigBear.ai has a 12 month low of $1.17 and a 12 month high of $4.80. The company has a debt-to-equity ratio of 1.99, a quick ratio of 2.10 and a current ratio of 2.10.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BBAI. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.50 price objective on shares of BigBear.ai in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of BigBear.ai in a report on Wednesday.

Insider Activity at BigBear.ai

In other news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total transaction of $1,019,614.26. Following the sale, the director now directly owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

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.