BigBear.ai (NYSE:BBAI) Hits New 52-Week High – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $5.84 and last traded at $5.73, with a volume of 19647963 shares. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BBAI shares. HC Wainwright boosted their price target on BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.50 target price on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Stock Performance

The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06. The stock has a 50 day simple moving average of $3.75 and a 200 day simple moving average of $2.35.

BigBear.ai (NYSE:BBAI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The company had revenue of $41.51 million for the quarter, compared to analysts’ expectations of $45.04 million. During the same quarter last year, the business earned $0.03 earnings per share. BigBear.ai’s revenue was up 22.1% on a year-over-year basis. Equities research analysts expect that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BigBear.ai news, CEO Amanda Long sold 66,140 shares of BigBear.ai stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.50, for a total value of $297,630.00. Following the transaction, the chief executive officer now owns 2,445,449 shares in the company, valued at $11,004,520.50. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sean Bernard Battle sold 44,813 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total transaction of $199,865.98. Following the completion of the transaction, the director now directly owns 137,838 shares of the company’s stock, valued at $614,757.48. This trade represents a 24.53 % 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 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Several hedge funds and other institutional investors have recently made changes to their positions in BBAI. Victory Capital Management Inc. lifted its stake in BigBear.ai by 19.0% in the 4th quarter. Victory Capital Management Inc. now owns 14,576 shares of the company’s stock valued at $65,000 after purchasing an additional 2,332 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of BigBear.ai by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 298,596 shares of the company’s stock worth $1,329,000 after buying an additional 8,879 shares in the last quarter. Cape Investment Advisory Inc. bought a new position in shares of BigBear.ai in the 4th quarter valued at $40,000. Simon Quick Advisors LLC acquired a new stake in shares of BigBear.ai during the 4th quarter valued at $44,000. Finally, Retirement Income Solutions Inc bought a new stake in BigBear.ai during the 4th quarter worth $47,000. 7.55% of the stock is owned by institutional investors.

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.