BigCommerce Holdings, Inc. (NASDAQ:BIGC) Short Interest Down 12.8% in December

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 6,520,000 shares, a decrease of 12.8% from the November 30th total of 7,480,000 shares. Based on an average daily trading volume, of 995,100 shares, the short-interest ratio is presently 6.6 days. Currently, 10.3% of the shares of the stock are sold short.

BigCommerce Stock Performance

Shares of BigCommerce stock traded down $0.08 during trading on Tuesday, reaching $6.11. The company’s stock had a trading volume of 454,476 shares, compared to its average volume of 816,995. The business’s fifty day moving average price is $6.44 and its 200-day moving average price is $6.55. BigCommerce has a one year low of $5.13 and a one year high of $9.61. The firm has a market cap of $478.90 million, a price-to-earnings ratio of -16.97 and a beta of 1.15. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81.

Institutional Investors Weigh In On BigCommerce

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

Analyst Ratings Changes

BIGC has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of BigCommerce in a report on Monday, December 9th. Finally, Barclays boosted their target price on BigCommerce from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.44.

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.