BigBear.ai (NYSE:BBAI) Stock Price Up 16.9% – What’s Next?

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price rose 16.9% on Wednesday . The stock traded as high as $3.75 and last traded at $3.73. Approximately 49,682,012 shares changed hands during trading, an increase of 382% from the average daily volume of 10,299,381 shares. The stock had previously closed at $3.19.

Analysts Set New Price Targets

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

BigBear.ai Stock Up 16.9 %

The stock has a market capitalization of $934.69 million, a price-to-earnings ratio of -4.10 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. The business has a fifty day moving average of $2.24 and a 200 day moving average of $1.74.

BigBear.ai (NYSE:BBAI) last announced its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. During the same quarter last year, the firm posted $0.03 earnings per share. BigBear.ai’s revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts predict that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Transactions at BigBear.ai

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 stock was 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 approximately $255,809,668.66. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in 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 acquiring an additional 189,593 shares during the last quarter. Fortis Group Advisors LLC lifted its holdings in BigBear.ai by 26.9% in the 2nd 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 in the last quarter. Rhumbline Advisers grew its stake in BigBear.ai by 206.2% in the 2nd quarter. Rhumbline Advisers now owns 101,963 shares of the company’s stock worth $154,000 after acquiring an additional 68,663 shares during the period. XTX Topco Ltd acquired a new position in BigBear.ai in the second quarter valued at $58,000. Finally, Bank of Montreal Can raised its stake in BigBear.ai by 6,435.7% during the second quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock worth $1,006,000 after purchasing an additional 643,570 shares during the period. 7.55% of the stock is 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.