BigBear.ai (NYSE:BBAI) Stock Price Down 7% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price traded down 7% during mid-day trading on Thursday . The stock traded as low as $2.80 and last traded at $2.91. 50,596,940 shares changed hands during trading, an increase of 421% from the average session volume of 9,703,420 shares. The stock had previously closed at $3.13.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of BigBear.ai in a research note on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.50 price target on shares of BigBear.ai in a research note on Wednesday, November 6th.

BigBear.ai Price Performance

The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06. The stock has a market capitalization of $779.32 million, a P/E ratio of -3.42 and a beta of 3.58. The stock’s fifty day moving average is $2.14 and its 200-day moving average is $1.69.

BigBear.ai (NYSE:BBAI) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $41.51 million during the quarter, compared to the consensus estimate of $45.04 million. During the same quarter in the prior year, the company posted $0.03 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. On average, equities analysts anticipate that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Buying and Selling at BigBear.ai

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

Institutional Trading of BigBear.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in BigBear.ai by 160.5% in 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 during the period. Fortis Group Advisors LLC raised its position in shares of BigBear.ai by 26.9% during the second 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 during the last quarter. Rhumbline Advisers lifted its stake in shares of BigBear.ai by 206.2% in the second quarter. Rhumbline Advisers now owns 101,963 shares of the company’s stock valued at $154,000 after buying an additional 68,663 shares during the period. XTX Topco Ltd bought a new position in BigBear.ai during the second quarter valued at about $58,000. Finally, Bank of Montreal Can raised 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 acquiring an additional 643,570 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.