BigBear.ai (NYSE:BBAI) Shares Up 7.8% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price shot up 7.8% on Friday . The company traded as high as $3.59 and last traded at $3.53. 24,333,025 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 21,363,389 shares. The stock had previously closed at $3.27.

Analysts Set New Price Targets

A number of research firms have weighed in on BBAI. HC Wainwright cut their price target on BigBear.ai from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Northland Capmk cut BigBear.ai from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 7th. Cantor Fitzgerald cut their price target on BigBear.ai from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Finally, Northland Securities cut BigBear.ai from an “outperform” rating to a “market perform” rating and raised their price target for the company from $2.50 to $4.00 in a research note on Friday, March 7th.

BigBear.ai Price Performance

The stock has a 50-day moving average price of $5.21 and a 200 day moving average price of $3.19. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06. The firm has a market cap of $995.60 million, a price-to-earnings ratio of -3.84 and a beta of 3.12.

Insider Transactions at BigBear.ai

In related news, CEO Amanda Long sold 66,140 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.50, for a total transaction of $297,630.00. Following the transaction, the chief executive officer now owns 2,445,449 shares of the company’s stock, valued at $11,004,520.50. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sean Bernard Battle sold 44,813 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total value of $199,865.98. Following the transaction, the director now directly owns 137,838 shares in the company, valued at approximately $614,757.48. This represents a 24.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 310,953 shares of company stock worth $1,347,496. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. boosted its holdings in BigBear.ai by 8.3% in the 4th quarter. Invesco Ltd. now owns 21,149 shares of the company’s stock valued at $94,000 after purchasing an additional 1,629 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of BigBear.ai by 19.0% during the 4th quarter. Victory Capital Management Inc. now owns 14,576 shares of the company’s stock valued at $65,000 after acquiring an additional 2,332 shares during the period. Deutsche Bank AG lifted its position in shares of BigBear.ai by 4.6% during the 4th quarter. Deutsche Bank AG now owns 55,055 shares of the company’s stock valued at $245,000 after acquiring an additional 2,427 shares during the period. Wells Fargo & Company MN lifted its position in shares of BigBear.ai by 5.1% during the 4th quarter. Wells Fargo & Company MN now owns 78,458 shares of the company’s stock valued at $349,000 after acquiring an additional 3,797 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of BigBear.ai by 12.3% during the 4th quarter. JPMorgan Chase & Co. now owns 51,166 shares of the company’s stock valued at $228,000 after acquiring an additional 5,591 shares during the period. 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.