BigBear.ai (NYSE:BBAI) Stock Price Down 1.7% – Here’s What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) dropped 1.7% during mid-day trading on Wednesday . The stock traded as low as $6.47 and last traded at $6.5950. Approximately 102,394,615 shares traded hands during trading, an increase of 7% from the average daily volume of 95,398,250 shares. The stock had previously closed at $6.71.

Wall Street Analysts Forecast Growth

BBAI has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of BigBear.ai in a report on Wednesday, October 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price target on shares of BigBear.ai in a research note on Tuesday, November 11th. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of BigBear.ai in a research report on Tuesday, November 11th. Finally, Wall Street Zen raised BigBear.ai from a “strong sell” rating to a “hold” rating in a report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.33.

BigBear.ai Stock Down 1.7%

The stock has a 50-day moving average of $6.68 and a 200-day moving average of $6.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.13 and a quick ratio of 3.13. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -4.64 and a beta of 3.44.

BigBear.ai (NYSE:BBAI) last released its earnings results on Monday, November 10th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $33.14 million for the quarter, compared to the consensus estimate of $31.82 million. BigBear.ai had a negative net margin of 274.70% and a negative return on equity of 26.11%. The business’s revenue was down 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Sell-side analysts predict that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Transactions at BigBear.ai

In other news, CFO Sean Raymond Ricker sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $7.06, for a total transaction of $35,300.00. Following the completion of the sale, the chief financial officer owned 488,716 shares of the company’s stock, valued at approximately $3,450,334.96. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dorothy D. Hayes sold 22,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $6.08, for a total transaction of $133,760.00. Following the sale, the director owned 236,150 shares in the company, valued at $1,435,792. This represents a 8.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBAI. Goldman Sachs Group Inc. lifted its holdings in BigBear.ai by 569.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,340,713 shares of the company’s stock worth $6,694,000 after buying an additional 1,990,822 shares during the period. Baird Financial Group Inc. acquired a new position in shares of BigBear.ai in the first quarter worth approximately $286,000. Wedbush Securities Inc. bought a new stake in BigBear.ai in the second quarter valued at approximately $1,669,000. Swiss National Bank increased its position in BigBear.ai by 51.1% during the 2nd quarter. Swiss National Bank now owns 552,100 shares of the company’s stock valued at $3,749,000 after purchasing an additional 186,600 shares during the period. Finally, XTX Topco Ltd raised its holdings in BigBear.ai by 980.7% during the 2nd quarter. XTX Topco Ltd now owns 368,938 shares of the company’s stock worth $2,505,000 after purchasing an additional 334,799 shares during the last quarter. 7.55% of the stock is currently owned by 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.