BigCommerce Holdings, Inc. (NASDAQ:BIGC) Sees Large Drop in Short Interest

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 5,570,000 shares, a decline of 14.6% from the December 15th total of 6,520,000 shares. Based on an average daily trading volume, of 901,100 shares, the short-interest ratio is currently 6.2 days. Currently, 8.8% of the company’s shares are short sold.

Analysts Set New Price Targets

BIGC has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of BigCommerce in a research report on Monday, December 9th. Stifel Nicolaus dropped their price target on BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Barclays downgraded shares of BigCommerce from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $8.00 to $7.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.31.

Institutional Trading of BigCommerce

Several hedge funds have recently bought and sold shares of BIGC. The Manufacturers Life Insurance Company lifted its stake in shares of BigCommerce by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 27,167 shares of the company’s stock valued at $219,000 after buying an additional 2,056 shares in the last quarter. HighTower Advisors LLC boosted its stake in BigCommerce by 16.8% during the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after purchasing an additional 2,200 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in BigCommerce during the 2nd quarter worth approximately $35,000. Rhumbline Advisers raised its stake in shares of BigCommerce by 8.4% in the second quarter. Rhumbline Advisers now owns 101,556 shares of the company’s stock worth $819,000 after purchasing an additional 7,849 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of BigCommerce by 93.4% in the third quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company’s stock valued at $100,000 after purchasing an additional 8,297 shares in the last quarter. Institutional investors and hedge funds own 79.21% of the company’s stock.

BigCommerce Stock Down 0.2 %

BigCommerce stock traded down $0.01 during mid-day trading on Friday, reaching $6.13. The stock had a trading volume of 538,604 shares, compared to its average volume of 711,592. The firm has a market capitalization of $480.47 million, a PE ratio of -17.03 and a beta of 1.18. BigCommerce has a fifty-two week low of $5.13 and a fifty-two week high of $8.98. The stock’s 50-day simple moving average is $6.64 and its 200-day simple moving average is $6.41. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81.

BigCommerce Company Profile

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.