BigBear.ai (NYSE:BBAI) Sees Large Volume Increase – Time to Buy?

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) saw unusually-strong trading volume on Tuesday . Approximately 15,210,575 shares traded hands during mid-day trading, an increase of 67% from the previous session’s volume of 9,098,437 shares.The stock last traded at $3.22 and had previously closed at $2.99.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated 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 research report on Wednesday, November 6th.

BigBear.ai Trading Up 11.4 %

The stock has a market capitalization of $834.45 million, a PE ratio of -3.54 and a beta of 3.58. 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 firm has a 50-day moving average price of $2.05 and a 200-day moving average price of $1.66.

BigBear.ai (NYSE:BBAI) last announced 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. BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The business had revenue of $41.51 million for the quarter, compared to analyst estimates of $45.04 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of BigBear.ai 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 transaction, the director now directly owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. The trade was a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC raised its position in shares of BigBear.ai by 26.9% in the second quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock worth $101,000 after buying an additional 14,134 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of BigBear.ai in the 1st quarter valued at about $31,000. XTX Topco Ltd boosted its position in shares of BigBear.ai by 57.9% during the 3rd quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock valued at $89,000 after acquiring an additional 22,363 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of BigBear.ai by 135.0% during the second quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock worth $62,000 after purchasing an additional 23,597 shares in the last quarter. Finally, Sovereign Financial Group Inc. bought a new position in shares of BigBear.ai in the third quarter worth approximately $36,000. Institutional investors own 7.55% of the company’s stock.

About BigBear.ai

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.