BigBear.ai (NYSE:BBAI) Stock Price Down 1.5% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price fell 1.5% during mid-day trading on Tuesday . The company traded as low as $3.62 and last traded at $3.67. 17,612,189 shares were traded during mid-day trading, a decline of 41% from the average session volume of 29,683,907 shares. The stock had previously closed at $3.72.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Northland Securities cut BigBear.ai from an “outperform” rating to a “market perform” rating and upped their price target for the company from $2.50 to $4.00 in a research report on Friday, March 7th. Cantor Fitzgerald reduced their price target on shares of BigBear.ai from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. HC Wainwright decreased their price objective on BigBear.ai from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Finally, Northland Capmk cut shares of BigBear.ai from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 7th.

BigBear.ai Stock Performance

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 business has a 50 day moving average price of $3.10 and a 200 day moving average price of $3.72. The stock has a market capitalization of $1.05 billion, a PE ratio of -3.95 and a beta of 3.32.

BigBear.ai (NYSE:BBAI) last issued its earnings results on Thursday, May 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The firm had revenue of $34.76 million during the quarter, compared to analysts’ expectations of $36.26 million. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted ($0.67) earnings per share. As a group, equities research analysts expect that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Buying and Selling at BigBear.ai

In related news, CAO Sean Raymond Ricker sold 36,166 shares of BigBear.ai stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $3.65, for a total transaction of $132,005.90. Following the sale, the chief accounting officer now owns 223,070 shares of the company’s stock, valued at approximately $814,205.50. This trade represents a 13.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Julie Peffer sold 20,000 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $3.25, for a total transaction of $65,000.00. Following the completion of the transaction, the chief financial officer now directly owns 730,077 shares in the company, valued at $2,372,750.25. This trade represents a 2.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,219 shares of company stock worth $532,605. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of BigBear.ai by 569.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,340,713 shares of the company’s stock worth $6,694,000 after acquiring an additional 1,990,822 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of BigBear.ai by 441.1% during the 1st quarter. NewEdge Advisors LLC now owns 74,318 shares of the company’s stock worth $213,000 after acquiring an additional 60,583 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of BigBear.ai by 54.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 456,661 shares of the company’s stock worth $1,306,000 after acquiring an additional 160,096 shares during the last quarter. AQR Capital Management LLC purchased a new stake in BigBear.ai in the first quarter worth $88,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of BigBear.ai during the first quarter worth $3,811,000. 7.55% of the stock is owned by institutional investors.

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.