BigBear.ai (NYSE:BBAI) Stock Price Down 8.4% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares dropped 8.4% on Monday . The stock traded as low as $3.50 and last traded at $3.79. Approximately 12,734,222 shares changed hands during trading, a decline of 63% from the average daily volume of 34,626,570 shares. The stock had previously closed at $4.13.

Wall Street Analyst Weigh In

BBAI has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a research report on Wednesday, November 6th. HC Wainwright raised their price objective on 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 Stock Down 1.8 %

The firm has a market capitalization of $914.38 million, a PE ratio of -3.99 and a beta of 3.21. The firm’s 50-day moving average is $3.36 and its 200 day moving average is $2.19. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06.

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

Insider Buying and Selling at BigBear.ai

In related news, CEO Amanda Long sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $4.25, for a total transaction of $850,000.00. Following the transaction, the chief executive officer now owns 2,583,254 shares of the company’s stock, valued at approximately $10,978,829.50. This represents a 7.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sean Bernard Battle sold 44,813 shares of BigBear.ai stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total transaction of $199,865.98. Following the completion of the sale, the director now directly owns 137,838 shares of the company’s stock, valued at $614,757.48. The trade was a 24.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 310,953 shares of company stock worth $1,347,496. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On BigBear.ai

Several institutional investors have recently added to or reduced their stakes in the business. Simon Quick Advisors LLC acquired a new position in shares of BigBear.ai in the 4th quarter valued at $44,000. Bay Rivers Group purchased a new position in shares of BigBear.ai in the 4th quarter worth $48,000. Apollon Wealth Management LLC acquired a new position in BigBear.ai in the fourth quarter valued at $65,000. Choreo LLC purchased a new stake in BigBear.ai during the fourth quarter valued at about $67,000. Finally, XTX Topco Ltd grew its position in BigBear.ai by 57.9% during the third quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock valued at $89,000 after acquiring an additional 22,363 shares during the period. 7.55% of the stock is currently owned by institutional investors and hedge funds.

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.