BigBear.ai (NYSE:BBAI) Stock Price Down 6% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price fell 6% on Thursday . The stock traded as low as $3.85 and last traded at $4.01. 52,876,089 shares changed hands during mid-day trading, an increase of 52% from the average session volume of 34,689,945 shares. The stock had previously closed at $4.26.

Analysts Set New Price Targets

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

BigBear.ai Stock Performance

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 firm has a 50-day simple moving average of $3.31 and a two-hundred day simple moving average of $3.90. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.22 and a beta of 3.29.

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

Insider Activity at BigBear.ai

In other BigBear.ai news, CAO Sean Raymond Ricker sold 36,166 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $3.65, for a total value of $132,005.90. Following the completion of the sale, the chief accounting officer now owns 223,070 shares in the company, valued at approximately $814,205.50. This trade represents a 13.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Julie Peffer sold 45,924 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $3.48, for a total value of $159,815.52. Following the completion of the transaction, the chief financial officer now directly owns 684,153 shares of the company’s stock, valued at approximately $2,380,852.44. The trade was a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,219 shares of company stock worth $752,605 in the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On BigBear.ai

Hedge funds and other institutional investors have recently bought and sold shares of the business. Flaharty Asset Management LLC acquired a new stake in shares of BigBear.ai in the 1st quarter valued at $26,000. City State Bank acquired a new stake in shares of BigBear.ai in the 1st quarter valued at $29,000. Cornerstone Wealth Management LLC acquired a new stake in shares of BigBear.ai in the 1st quarter valued at $29,000. Blue Bell Private Wealth Management LLC increased its stake in shares of BigBear.ai by 2,216.0% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 11,580 shares of the company’s stock valued at $33,000 after buying an additional 11,080 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of BigBear.ai in the 1st quarter valued at $34,000. 7.55% of the stock is 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.