Short Interest in BigCommerce Holdings, Inc. (NASDAQ:BIGC) Drops By 12.8%

BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 6,520,000 shares, a drop of 12.8% from the November 30th total of 7,480,000 shares. Based on an average daily volume of 995,100 shares, the short-interest ratio is currently 6.6 days. Currently, 10.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

BIGC has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their price objective on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of BigCommerce in a report on Monday, December 9th. Finally, Barclays lifted their price target on BigCommerce from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.44.

BigCommerce Stock Performance

Shares of BIGC stock traded down $0.16 during trading hours on Friday, hitting $6.13. 858,893 shares of the company were exchanged, compared to its average volume of 819,370. BigCommerce has a 52-week low of $5.13 and a 52-week high of $10.19. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The firm has a fifty day simple moving average of $6.44 and a 200 day simple moving average of $6.55. The stock has a market capitalization of $480.47 million, a price-to-earnings ratio of -17.03 and a beta of 1.15.

Institutional Trading of BigCommerce

A number of large investors have recently bought and sold shares of BIGC. Canada Pension Plan Investment Board purchased a new position in shares of BigCommerce during the 2nd quarter valued at $35,000. Virtu Financial LLC bought a new stake in BigCommerce in the 3rd quarter valued at about $61,000. HighTower Advisors LLC lifted its holdings in BigCommerce by 16.8% during the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after purchasing an additional 2,200 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in BigCommerce by 93.4% during the third quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company’s stock worth $100,000 after purchasing an additional 8,297 shares during the period. Finally, Aigen Investment Management LP purchased a new position in shares of BigCommerce in the third quarter worth about $105,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

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.