BigBear.ai (NYSE:BBAI) Shares Down 5.3% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) dropped 5.3% during mid-day trading on Monday . The company traded as low as $3.91 and last traded at $3.93. Approximately 37,643,051 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 49,712,948 shares. The stock had previously closed at $4.15.

Analyst Ratings Changes

Several research analysts have recently commented on BBAI shares. Cantor Fitzgerald restated an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a research report on Wednesday, November 6th. HC Wainwright raised their target price on BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a report on Monday, December 30th.

BigBear.ai Stock Performance

The stock has a market capitalization of $1.11 billion, a PE ratio of -4.83 and a beta of 3.21. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06. The firm’s 50 day moving average is $3.13 and its two-hundred day moving average is $2.10.

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

Insiders Place Their Bets

In related news, CEO Amanda Long sold 66,140 shares of BigBear.ai stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.50, for a total value of $297,630.00. Following the completion of the transaction, the chief executive officer now owns 2,445,449 shares in the company, valued at $11,004,520.50. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On BigBear.ai

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of BigBear.ai by 160.5% during the second quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company’s stock worth $465,000 after purchasing an additional 189,593 shares in the last quarter. Rhumbline Advisers lifted its holdings in BigBear.ai by 206.2% during the 2nd quarter. Rhumbline Advisers now owns 101,963 shares of the company’s stock worth $154,000 after buying an additional 68,663 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of BigBear.ai during the 2nd quarter worth about $58,000. Bank of Montreal Can increased its holdings in shares of BigBear.ai by 6,435.7% in the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock valued at $1,006,000 after acquiring an additional 643,570 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of BigBear.ai by 135.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock worth $62,000 after acquiring an additional 23,597 shares in the last quarter. 7.55% of the stock is currently owned by institutional investors and hedge funds.

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.