BigBear.ai (NYSE:BBAI) Stock Price Up 9.6% – Here’s What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) rose 9.6% on Monday . The stock traded as high as $3.50 and last traded at $3.41. Approximately 23,667,060 shares changed hands during mid-day trading, an increase of 136% from the average daily volume of 10,009,392 shares. The stock had previously closed at $3.11.

Analysts Set New Price Targets

BBAI has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $3.50 target price on shares of BigBear.ai in a research report on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and set a $3.00 price objective on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Price Performance

The company’s 50 day simple moving average is $2.17 and its two-hundred day simple moving average is $1.71. 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 $814.40 million, a P/E ratio of -3.57 and a beta of 3.58.

BigBear.ai (NYSE:BBAI) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, beating 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 analysts’ expectations of $45.04 million. During the same period last year, the firm posted $0.03 EPS. The business’s revenue was up 22.1% on a year-over-year basis. As a group, equities analysts expect that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity at BigBear.ai

In other news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 143,713,297 shares of the company’s stock, valued at $255,809,668.66. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Fortis Group Advisors LLC lifted its stake 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 acquiring an additional 14,134 shares during the period. XTX Topco Ltd lifted its position in BigBear.ai by 57.9% during the 3rd quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock valued at $89,000 after purchasing an additional 22,363 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of BigBear.ai by 135.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock valued at $62,000 after purchasing an additional 23,597 shares during the last quarter. Sovereign Financial Group Inc. acquired a new stake in shares of BigBear.ai during the 3rd quarter worth approximately $36,000. Finally, Intech Investment Management LLC bought a new stake in shares of BigBear.ai during the third quarter worth approximately $61,000. 7.55% of the stock is currently owned by institutional investors.

BigBear.ai Company Profile

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.