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

BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw a large decrease in short interest in November. As of November 15th, there was short interest totalling 7,850,000 shares, a decrease of 8.8% from the October 31st total of 8,610,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 7.5 days. Approximately 12.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

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

BigCommerce Stock Performance

Shares of NASDAQ:BIGC traded down $0.18 during mid-day trading on Monday, reaching $7.19. The company had a trading volume of 297,135 shares, compared to its average volume of 803,994. The company’s 50-day moving average price is $5.96 and its 200-day moving average price is $6.72. BigCommerce has a one year low of $5.13 and a one year high of $10.19. The firm has a market cap of $563.55 million, a price-to-earnings ratio of -20.47 and a beta of 0.99. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48.

Hedge Funds Weigh In On BigCommerce

Several large investors have recently modified their holdings of BIGC. Vanguard Group Inc. lifted its holdings in BigCommerce by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock worth $70,817,000 after purchasing an additional 572,396 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in BigCommerce by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock valued at $350,000 after purchasing an additional 3,188 shares during the period. Virtu Financial LLC purchased a new position in shares of BigCommerce during the 1st quarter valued at $104,000. Catalytic Wealth RIA LLC purchased a new stake in shares of BigCommerce in the second quarter worth $188,000. Finally, Rhumbline Advisers boosted its stake in BigCommerce by 8.4% during the second quarter. Rhumbline Advisers now owns 101,556 shares of the company’s stock valued at $819,000 after buying an additional 7,849 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.

About BigCommerce

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.