BigBear.ai (NYSE:BBAI) Shares Up 6% – Still a Buy?

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price traded up 6% during mid-day trading on Wednesday . The stock traded as high as $3.53 and last traded at $3.37. 11,605,227 shares traded hands during trading, a decline of 64% from the average session volume of 32,372,000 shares. The stock had previously closed at $3.18.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. HC Wainwright raised their target price on BigBear.ai from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 target price on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Stock Performance

The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06. The stock has a fifty day simple moving average of $2.91 and a two-hundred day simple moving average of $2.01. The stock has a market capitalization of $834.45 million, a price-to-earnings ratio of -3.66 and a beta of 3.21.

BigBear.ai (NYSE:BBAI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The firm had revenue of $41.51 million during the quarter, compared to the consensus estimate of $45.04 million. During the same period last year, the business posted $0.03 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. Analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In other BigBear.ai news, CEO Amanda Long sold 200,000 shares of BigBear.ai stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $4.25, for a total transaction of $850,000.00. Following the completion of the transaction, the chief executive officer now owns 2,583,254 shares in the company, valued at approximately $10,978,829.50. The trade was a 7.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 276,215 shares of company stock worth $1,165,261 in the last three months. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

Several hedge funds have recently modified their holdings of BBAI. Bank of Montreal Can grew its stake in BigBear.ai by 6,435.7% in the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock valued at $1,006,000 after buying an additional 643,570 shares in the last quarter. Geode Capital Management LLC grew its position in shares of BigBear.ai by 28.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock valued at $3,152,000 after purchasing an additional 479,401 shares in the last quarter. State Street Corp grew its position in shares of BigBear.ai by 16.8% during the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock valued at $2,723,000 after purchasing an additional 267,673 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of BigBear.ai by 160.5% during the 2nd 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. Finally, Sovereign Financial Group Inc. grew its position in shares of BigBear.ai by 699.3% during the 4th quarter. Sovereign Financial Group Inc. now owns 199,815 shares of the company’s stock valued at $889,000 after purchasing an additional 174,815 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.