BigBear.ai (NYSE:BBAI) Stock Price Down 8.4% – Here’s What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) fell 8.4% during trading on Monday . The stock traded as low as $3.50 and last traded at $3.79. 12,734,222 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 34,626,570 shares. The stock had previously closed at $4.13.

Wall Street Analysts Forecast Growth

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

BigBear.ai Price Performance

The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The firm has a market cap of $914.38 million, a price-to-earnings ratio of -3.99 and a beta of 3.21. The company’s 50-day moving average price is $3.36 and its 200-day moving average price is $2.19.

BigBear.ai (NYSE:BBAI) last released its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $45.04 million. During the same period in the prior year, the business earned $0.03 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. On average, 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, CEO Amanda Long sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total value of $850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,583,254 shares of the company’s stock, valued at $10,978,829.50. This represents a 7.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sean Bernard Battle sold 44,813 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total transaction of $199,865.98. Following the sale, the director now directly owns 137,838 shares in the company, valued at approximately $614,757.48. The trade was a 24.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 310,953 shares of company stock worth $1,347,496. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of BigBear.ai by 28.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock worth $3,152,000 after acquiring an additional 479,401 shares during the period. State Street Corp lifted its position in BigBear.ai by 16.8% in the third 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 during the period. Bank of Montreal Can boosted its holdings 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 purchasing an additional 643,570 shares in the last quarter. Sargent Investment Group LLC acquired a new position in BigBear.ai during the 4th quarter worth approximately $1,028,000. Finally, Sovereign Financial Group Inc. raised its stake 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 worth $889,000 after buying an additional 174,815 shares in the last quarter. Institutional investors and hedge funds 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.