BigBear.ai (NYSE:BBAI) Shares Up 6.7% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price was up 6.7% on Friday . The company traded as high as $4.43 and last traded at $4.50. Approximately 9,327,708 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 34,660,602 shares. The stock had previously closed at $4.22.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BBAI shares. Cantor Fitzgerald restated an “overweight” rating and issued a $3.50 target price on shares of BigBear.ai in a report on Wednesday, November 6th. HC Wainwright upped their price target on shares of BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a report on Monday, December 30th.

BigBear.ai Price Performance

The company has a market capitalization of $1.08 billion, a P/E ratio of -4.74 and a beta of 3.21. The firm’s fifty day moving average is $3.24 and its 200 day moving average is $2.13. 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 issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) EPS 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 the consensus estimate of $45.04 million. BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. As a group, analysts predict that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sean Bernard Battle sold 44,813 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $4.46, for a total value of $199,865.98. Following the completion of the sale, the director now owns 137,838 shares of the company’s stock, valued at approximately $614,757.48. This represents a 24.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanda Long sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total transaction of $850,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,583,254 shares of the company’s stock, valued at $10,978,829.50. The trade was 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 worth $1,347,496 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

A number of hedge funds and other institutional investors have recently bought and sold shares of BBAI. Sovereign Financial Group Inc. acquired a new position in BigBear.ai during the 3rd quarter valued at approximately $36,000. Simon Quick Advisors LLC acquired a new position in BigBear.ai during the 4th quarter valued at approximately $44,000. Bay Rivers Group acquired a new position in BigBear.ai during the 4th quarter valued at approximately $48,000. XTX Topco Ltd acquired a new position in BigBear.ai during the 2nd quarter valued at approximately $58,000. Finally, Intech Investment Management LLC acquired a new position in BigBear.ai during the 3rd quarter valued at approximately $61,000. 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.