BigBear.ai (NYSE:BBAI) Stock Price Up 7.8% – Time to Buy?

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price rose 7.8% on Friday . The company traded as high as $3.06 and last traded at $3.04. Approximately 18,697,130 shares traded hands during trading, an increase of 89% from the average daily volume of 9,873,222 shares. The stock had previously closed at $2.82.

Analysts Set New Price Targets

Several research analysts have issued reports on BBAI shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.50 price target on shares of BigBear.ai in a report on Wednesday, November 6th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Stock Performance

The firm’s fifty day simple moving average is $2.17 and its 200 day simple moving average is $1.71. The company has a market capitalization of $779.32 million, a price-to-earnings ratio of -3.42 and a beta of 3.58. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06.

BigBear.ai (NYSE:BBAI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. During the same quarter last year, the business posted $0.03 EPS. The company’s revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Activity

In other news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total value of $1,019,614.26. Following the completion of the sale, the director now directly owns 143,713,297 shares of the company’s stock, valued at $255,809,668.66. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BBAI. Sovereign Financial Group Inc. acquired a new stake in shares of BigBear.ai during the 3rd quarter valued at $36,000. XTX Topco Ltd purchased a new stake in shares of BigBear.ai during the second quarter worth $58,000. Intech Investment Management LLC acquired a new stake in BigBear.ai during the third quarter valued at $61,000. The Manufacturers Life Insurance Company grew its stake in BigBear.ai by 135.0% in the second quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock valued at $62,000 after purchasing an additional 23,597 shares in the last quarter. Finally, Fortis Group Advisors LLC increased its position in BigBear.ai by 26.9% in the 2nd quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock worth $101,000 after purchasing an additional 14,134 shares during the last quarter. Institutional investors and hedge funds 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.