BigCommerce (NASDAQ:BIGC) Shares Down 3.5% – What’s Next?

Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) fell 3.5% during mid-day trading on Wednesday . The company traded as low as $6.39 and last traded at $6.40. 24,791 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 646,872 shares. The stock had previously closed at $6.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BIGC shares. Stifel Nicolaus cut their price target 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 reaffirmed a “buy” rating and issued a $10.00 price objective on shares of BigCommerce in a research note on Monday, December 9th. Finally, Barclays lowered BigCommerce from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $8.00 to $7.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.31.

BigCommerce Stock Performance

The stock has a market cap of $499.44 million, a PE ratio of -17.73 and a beta of 1.18. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The firm’s 50-day moving average is $6.65 and its 200 day moving average is $6.31.

Institutional Investors Weigh In On BigCommerce

Institutional investors and hedge funds have recently modified their holdings of the stock. Clearline Capital LP lifted its holdings in shares of BigCommerce by 69.7% in the third quarter. Clearline Capital LP now owns 1,611,619 shares of the company’s stock valued at $9,428,000 after purchasing an additional 661,688 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of BigCommerce by 196.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,745 shares of the company’s stock valued at $2,268,000 after buying an additional 256,783 shares in the last quarter. Algert Global LLC increased its position in shares of BigCommerce by 67.7% during the 3rd quarter. Algert Global LLC now owns 449,072 shares of the company’s stock worth $2,627,000 after purchasing an additional 181,222 shares in the last quarter. 272 Capital LP increased its position in BigCommerce by 19.9% in the 3rd quarter. 272 Capital LP now owns 1,060,455 shares of the company’s stock valued at $6,204,000 after acquiring an additional 175,705 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in BigCommerce by 16.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,079,973 shares of the company’s stock valued at $6,318,000 after acquiring an additional 150,260 shares in the last quarter. Hedge funds and other institutional investors own 79.21% of the company’s stock.

About BigCommerce

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.