BigBear.ai (NYSE:BBAI) Trading 9.6% Higher – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price traded up 9.6% during trading on Monday . The stock traded as high as $3.50 and last traded at $3.41. 23,667,060 shares changed hands during trading, an increase of 136% from the average session volume of 10,009,392 shares. The stock had previously closed at $3.11.

Analysts Set New Price Targets

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

BigBear.ai Stock Up 4.5 %

The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08. The firm’s fifty day moving average is $2.17 and its 200 day moving average is $1.71. The stock has a market cap of $814.40 million, a P/E ratio of -3.57 and a beta of 3.58.

BigBear.ai (NYSE:BBAI) last posted its quarterly earnings data 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. The business had revenue of $41.51 million during the quarter, compared to analysts’ expectations 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 revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS. As a group, equities research analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Buying and Selling

In related news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of BigBear.ai stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total transaction of $1,019,614.26. Following the sale, the director now directly owns 143,713,297 shares of the company’s stock, valued at $255,809,668.66. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Trading of BigBear.ai

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of BigBear.ai by 160.5% in the second quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company’s stock valued at $465,000 after purchasing an additional 189,593 shares in the last quarter. Fortis Group Advisors LLC raised its stake in shares of 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 buying an additional 14,134 shares in the last quarter. Rhumbline Advisers raised its stake in shares of BigBear.ai by 206.2% in the 2nd quarter. Rhumbline Advisers now owns 101,963 shares of the company’s stock valued at $154,000 after buying an additional 68,663 shares in the last quarter. XTX Topco Ltd bought a new position in shares of BigBear.ai during the 2nd quarter worth about $58,000. Finally, Bank of Montreal Can boosted its position in shares of BigBear.ai by 6,435.7% during the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock valued at $1,006,000 after acquiring an additional 643,570 shares in the last quarter. Institutional investors 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.