Cantor Fitzgerald Reaffirms “Overweight” Rating for BigBear.ai (NYSE:BBAI)

BigBear.ai (NYSE:BBAI)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a research report issued on Wednesday, Benzinga reports. They currently have a $3.50 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 124.36% from the company’s previous close.

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of BigBear.ai in a research note on Wednesday.

BigBear.ai Stock Down 11.4 %

Shares of BBAI traded down $0.20 during trading hours on Wednesday, reaching $1.56. The stock had a trading volume of 2,536,179 shares, compared to its average volume of 6,547,837. BigBear.ai has a 12 month low of $1.17 and a 12 month high of $4.80. The firm has a 50-day simple moving average of $1.58 and a 200 day simple moving average of $1.51. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $390.11 million, a price-to-earnings ratio of -1.88 and a beta of 3.46.

BigBear.ai (NYSE:BBAI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. BigBear.ai had a negative return on equity of 295.34% and a negative net margin of 104.53%. The business had revenue of $41.51 million for the quarter, compared to analysts’ expectations of $45.04 million. During the same period last year, the business earned $0.03 EPS. The business’s revenue was up 22.1% on a year-over-year basis. Equities research analysts predict that BigBear.ai will post -0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of BigBear.ai stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total value of $1,019,614.26. Following the transaction, the director now directly owns 143,713,297 shares of the company’s stock, valued at $255,809,668.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BigBear.ai

Several hedge funds have recently made changes to their positions in BBAI. American International Group Inc. grew its stake in BigBear.ai by 75.4% in the first quarter. American International Group Inc. now owns 25,539 shares of the company’s stock worth $52,000 after purchasing an additional 10,982 shares during the period. Fortis Group Advisors LLC increased its position in BigBear.ai by 26.9% in the second 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. Price T Rowe Associates Inc. MD purchased a new stake in BigBear.ai in the first quarter worth about $31,000. Baader Bank Aktiengesellschaft purchased a new stake in BigBear.ai in the second quarter worth about $32,000. Finally, Keynote Financial Services LLC purchased a new stake in BigBear.ai in the first quarter worth about $45,000. 7.55% of the stock is owned by hedge funds and other institutional investors.

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.