BigCommerce (NASDAQ:BIGC) Trading 18.5% Higher – Here’s What Happened

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was up 18.5% on Thursday . The stock traded as high as $6.85 and last traded at $6.74. Approximately 440,420 shares changed hands during trading, a decline of 43% from the average daily volume of 775,858 shares. The stock had previously closed at $5.69.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BIGC. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a report on Thursday, October 3rd. Bank of America lowered their price objective on BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a research note on Thursday, August 29th. Barclays cut their target price on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Stifel Nicolaus dropped their price target on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.81.

BigCommerce Price Performance

The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 13.04. The firm’s fifty day moving average price is $5.70 and its two-hundred day moving average price is $6.70. The stock has a market capitalization of $481.29 million, a PE ratio of -11.91 and a beta of 0.99.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC grew its position in BigCommerce by 222.0% during the first quarter. Susquehanna Fundamental Investments LLC now owns 124,498 shares of the company’s stock valued at $858,000 after buying an additional 85,840 shares during the period. Vanguard Group Inc. grew its position in shares of BigCommerce by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock valued at $70,817,000 after acquiring an additional 572,396 shares during the period. Divisar Capital Management LLC purchased a new stake in shares of BigCommerce in the 2nd quarter worth $4,274,000. Clearline Capital LP raised its holdings in BigCommerce by 27.3% in the 2nd quarter. Clearline Capital LP now owns 949,931 shares of the company’s stock worth $7,656,000 after purchasing an additional 203,785 shares during the period. Finally, Algert Global LLC lifted its position in BigCommerce by 89.4% during the second quarter. Algert Global LLC now owns 267,850 shares of the company’s stock valued at $2,159,000 after purchasing an additional 126,443 shares in the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.

About BigCommerce

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.