BigCommerce (NASDAQ:BIGC) Trading Down 3.5% – Here’s What Happened

BigCommerce Holdings, Inc. (NASDAQ:BIGC) fell 3.5% during mid-day trading on Wednesday . The stock traded as low as $6.39 and last traded at $6.40. 24,791 shares were traded during mid-day trading, a decline of 96% from the average session volume of 646,872 shares. The stock had previously closed at $6.63.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays lowered BigCommerce from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $8.00 to $7.00 in a research note on Friday, January 10th. Stifel Nicolaus lowered their price target on BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of BigCommerce in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, BigCommerce presently has a consensus rating of “Hold” and a consensus price target of $8.31.

BigCommerce Stock Down 3.9 %

The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The stock’s 50-day moving average is $6.65 and its 200-day moving average is $6.31. The stock has a market cap of $499.44 million, a P/E ratio of -17.73 and a beta of 1.18.

Hedge Funds Weigh In On BigCommerce

A number of hedge funds have recently added to or reduced their stakes in BIGC. Virtu Financial LLC acquired a new position in BigCommerce during the 3rd quarter worth about $61,000. AQR Capital Management LLC bought a new stake in shares of BigCommerce in the 2nd quarter valued at about $121,000. HighTower Advisors LLC increased its stake in shares of BigCommerce by 16.8% in the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after acquiring an additional 2,200 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in BigCommerce during the 3rd quarter worth approximately $920,000. Finally, Harbor Capital Advisors Inc. raised its holdings in BigCommerce by 93.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company’s stock worth $100,000 after buying an additional 8,297 shares during the period. Institutional investors and hedge funds own 79.21% of the company’s stock.

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.