BigBear.ai (NYSE:BBAI) Shares Down 7% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) traded down 7% on Thursday . The stock traded as low as $2.74 and last traded at $2.77. 7,271,610 shares traded hands during trading, a decline of 15% from the average session volume of 8,589,911 shares. The stock had previously closed at $2.98.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of BigBear.ai in a report on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Price Performance

The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $679.09 million, a PE ratio of -2.97 and a beta of 3.58. The firm has a 50 day moving average price of $1.97 and a 200 day moving average price of $1.64.

BigBear.ai (NYSE:BBAI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. BigBear.ai’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. Research analysts anticipate that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Transactions at BigBear.ai

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the stock in a transaction 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 completion of the sale, the director now owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. This represents a 0.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BigBear.ai

A number of institutional investors have recently bought and sold shares of BBAI. Barclays PLC grew its position in shares of BigBear.ai by 310.3% during the third quarter. Barclays PLC now owns 141,766 shares of the company’s stock valued at $208,000 after purchasing an additional 107,214 shares in the last quarter. Geode Capital Management LLC grew its position in shares of BigBear.ai by 28.6% during the third quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock valued at $3,152,000 after purchasing an additional 479,401 shares in the last quarter. XTX Topco Ltd grew its position in shares of BigBear.ai by 57.9% during the third quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock valued at $89,000 after purchasing an additional 22,363 shares in the last quarter. State Street Corp grew its position in shares of BigBear.ai by 16.8% during the third quarter. State Street Corp now owns 1,864,815 shares of the company’s stock valued at $2,723,000 after purchasing an additional 267,673 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of BigBear.ai during the third quarter valued at about $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.