BigBear.ai (NYSE:BBAI) Shares Up 13.8% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price was up 13.8% on Tuesday . The company traded as high as $4.47 and last traded at $4.46. Approximately 20,996,905 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 34,747,004 shares. The stock had previously closed at $3.92.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.50 price objective on shares of BigBear.ai in a research report on Wednesday, November 6th. HC Wainwright raised their price objective on shares of 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 firm has a market cap of $1.11 billion, a PE ratio of -4.86 and a beta of 3.21. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08. The company has a 50 day moving average price of $3.08 and a 200 day moving average price of $2.08.

BigBear.ai (NYSE:BBAI) last posted its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $41.51 million for the quarter, compared to analyst estimates of $45.04 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. BigBear.ai’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. On average, sell-side analysts expect that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Buying and Selling at BigBear.ai

In related news, CEO Amanda Long sold 66,140 shares of BigBear.ai stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.50, for a total transaction of $297,630.00. Following the completion of the sale, the chief executive officer now owns 2,445,449 shares in the company, valued at approximately $11,004,520.50. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BigBear.ai

Hedge funds have recently modified their holdings of the company. Sovereign Financial Group Inc. acquired a new position in BigBear.ai in the third quarter valued at $36,000. Simon Quick Advisors LLC acquired a new position in shares of BigBear.ai during the 4th quarter valued at about $44,000. XTX Topco Ltd acquired a new stake in shares of BigBear.ai in the second quarter worth approximately $58,000. Intech Investment Management LLC purchased a new stake in BigBear.ai in the third quarter valued at approximately $61,000. Finally, The Manufacturers Life Insurance Company grew its holdings in BigBear.ai by 135.0% in the second 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 period. 7.55% of the stock is owned by institutional investors and hedge funds.

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.