BigCommerce Holdings, Inc. (NASDAQ:BIGC) Short Interest Update

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 8,610,000 shares, an increase of 5.9% from the October 15th total of 8,130,000 shares. Based on an average trading volume of 994,000 shares, the days-to-cover ratio is presently 8.7 days. Approximately 13.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On BigCommerce

Several hedge funds have recently bought and sold shares of BIGC. Vanguard Group Inc. grew its position in BigCommerce by 5.9% during the first quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock valued at $70,817,000 after buying an additional 572,396 shares during the period. Acadian Asset Management LLC acquired a new position in BigCommerce in the 1st quarter worth about $80,000. Clearbridge Investments LLC boosted its position in BigCommerce by 2.4% during the first quarter. Clearbridge Investments LLC now owns 1,327,083 shares of the company’s stock worth $9,144,000 after purchasing an additional 30,683 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in BigCommerce by 42.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 669,986 shares of the company’s stock valued at $4,602,000 after purchasing an additional 198,638 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of BigCommerce by 10.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,061,800 shares of the company’s stock worth $7,316,000 after buying an additional 102,100 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.

BigCommerce Stock Performance

NASDAQ:BIGC traded down $0.13 during mid-day trading on Friday, hitting $6.05. The company’s stock had a trading volume of 1,279,518 shares, compared to its average volume of 857,099. The stock has a market cap of $474.20 million, a price-to-earnings ratio of -16.81 and a beta of 0.99. The business’s fifty day moving average is $5.76 and its two-hundred day moving average is $6.72. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. BigCommerce has a 1 year low of $5.13 and a 1 year high of $10.19.

BigCommerce Company Profile

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.