BigBear.ai (NYSE:BBAI) Shares Gap Up – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares gapped up prior to trading on Monday . The stock had previously closed at $3.11, but opened at $3.20. BigBear.ai shares last traded at $3.23, with a volume of 15,323,596 shares.

Analyst Ratings Changes

BBAI has been the subject of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $3.50 target price on shares of BigBear.ai in a research report on Wednesday, November 6th. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Stock Performance

The company has a market cap of $864.52 million, a P/E ratio of -3.79 and a beta of 3.58. The business has a fifty day moving average of $2.17 and a 200 day moving average of $1.71. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08.

BigBear.ai (NYSE:BBAI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 138.35% and a negative net margin of 109.90%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. On average, equities analysts predict that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Buying and Selling at BigBear.ai

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of BigBear.ai stock in a transaction dated 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 transaction, the director now directly owns 143,713,297 shares of the company’s stock, valued at approximately $255,809,668.66. The trade was a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC raised its holdings in shares of BigBear.ai by 26.9% during the second quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock valued at $101,000 after purchasing an additional 14,134 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of BigBear.ai by 57.9% in the third quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock worth $89,000 after acquiring an additional 22,363 shares during the period. The Manufacturers Life Insurance Company lifted its holdings 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 acquiring an additional 23,597 shares during the period. Sovereign Financial Group Inc. bought a new stake in shares of BigBear.ai during the 3rd quarter valued at about $36,000. Finally, Intech Investment Management LLC purchased a new stake in shares of BigBear.ai during the 3rd quarter valued at about $61,000. 7.55% of the stock is owned by institutional investors.

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.