BigBear.ai (NYSE:BBAI) Shares Up 13.8% – Here’s What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) shot up 13.8% during trading on Tuesday . The company traded as high as $4.47 and last traded at $4.46. 20,996,905 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 34,747,004 shares. The stock had previously closed at $3.92.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BBAI. Cantor Fitzgerald reiterated 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 boosted their price target on shares of BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a report on Monday, December 30th.

BigBear.ai Price Performance

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 has a market capitalization of $1.06 billion, a P/E ratio of -4.63 and a beta of 3.21. The business has a fifty day moving average of $3.19 and a 200-day moving average of $2.12.

BigBear.ai (NYSE:BBAI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $41.51 million for the quarter, compared to analyst estimates of $45.04 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. On average, sell-side analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity at BigBear.ai

In related news, CEO Amanda Long sold 66,140 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.50, for a total transaction of $297,630.00. Following the completion of the sale, the chief executive officer now directly owns 2,445,449 shares of the company’s stock, valued at $11,004,520.50. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sean Bernard Battle sold 44,813 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total value of $199,865.98. Following the sale, the director now directly owns 137,838 shares of the company’s stock, valued at approximately $614,757.48. This represents a 24.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 310,953 shares of company stock worth $1,347,496 over the last quarter. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BigBear.ai

A number of large investors have recently made changes to their positions in the company. Simon Quick Advisors LLC acquired a new stake in shares of BigBear.ai in the 4th quarter valued at $44,000. Bay Rivers Group bought a new position in BigBear.ai during the fourth quarter valued at about $48,000. XTX Topco Ltd boosted its stake 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 worth $89,000 after acquiring an additional 22,363 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake 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. Finally, Sovereign Financial Group Inc. acquired a new position in shares of BigBear.ai during the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 7.55% of the company’s stock.

BigBear.ai Company Profile

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.