Short Interest in BigCommerce Holdings, Inc. (NASDAQ:BIGC) Declines By 12.8%

BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 6,520,000 shares, a decrease of 12.8% from the November 30th total of 7,480,000 shares. Currently, 10.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 995,100 shares, the days-to-cover ratio is currently 6.6 days.

Institutional Investors Weigh In On BigCommerce

A number of hedge funds and other institutional investors have recently bought and sold shares of BIGC. Catalytic Wealth RIA LLC acquired a new position in shares of BigCommerce during the second quarter worth approximately $188,000. Rhumbline Advisers increased its stake in shares of BigCommerce by 8.4% in the 2nd quarter. Rhumbline Advisers now owns 101,556 shares of the company’s stock valued at $819,000 after buying an additional 7,849 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of BigCommerce during the second quarter worth $35,000. Marshall Wace LLP acquired a new position in shares of BigCommerce during the second quarter valued at $773,000. Finally, 272 Capital LP lifted its stake in shares of BigCommerce by 40.0% during the second quarter. 272 Capital LP now owns 884,750 shares of the company’s stock valued at $7,131,000 after acquiring an additional 252,946 shares during the period. 79.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of BigCommerce from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of BigCommerce in a report on Monday, December 9th. Finally, Stifel Nicolaus dropped their target price on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.44.

BigCommerce Price Performance

Shares of NASDAQ BIGC traded down $0.08 during mid-day trading on Tuesday, hitting $6.11. 454,476 shares of the stock were exchanged, compared to its average volume of 816,995. The company has a market cap of $478.90 million, a P/E ratio of -16.97 and a beta of 1.15. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. BigCommerce has a twelve month low of $5.13 and a twelve month high of $9.61. The stock’s fifty day simple moving average is $6.44 and its two-hundred day simple moving average is $6.55.

BigCommerce Company Profile

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.