BigBear.ai (NYSE:BBAI) Trading 2.1% Higher – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price rose 2.1% during trading on Tuesday . The stock traded as high as $6.72 and last traded at $6.6950. Approximately 94,653,378 shares changed hands during trading, a decline of 1% from the average daily volume of 95,366,891 shares. The stock had previously closed at $6.56.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of BigBear.ai in a research note on Wednesday, October 8th. Wall Street Zen raised shares of BigBear.ai from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 target price on shares of BigBear.ai in a report on Tuesday, November 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of BigBear.ai in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.33.

BigBear.ai Trading Up 2.1%

The firm has a market capitalization of $2.92 billion, a PE ratio of -4.71 and a beta of 3.44. The firm has a 50 day simple moving average of $6.68 and a 200 day simple moving average of $6.09. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.18.

BigBear.ai (NYSE:BBAI) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). BigBear.ai had a negative net margin of 274.70% and a negative return on equity of 26.11%. The business had revenue of $33.14 million for the quarter, compared to the consensus estimate of $31.82 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The company’s revenue for the quarter was down 20.1% compared to the same quarter last year. Equities analysts expect that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Transactions at BigBear.ai

In other news, Director Dorothy D. Hayes sold 22,000 shares of BigBear.ai stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $6.08, for a total value of $133,760.00. Following the completion of the sale, the director directly owned 236,150 shares in the company, valued at $1,435,792. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sean Raymond Ricker sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $7.06, for a total transaction of $35,300.00. Following the transaction, the chief financial officer owned 488,716 shares in the company, valued at approximately $3,450,334.96. This trade represents a 1.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BBAI. Arizona State Retirement System increased its stake in shares of BigBear.ai by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 86,166 shares of the company’s stock worth $562,000 after purchasing an additional 1,823 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in BigBear.ai by 22.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 10,344 shares of the company’s stock valued at $70,000 after purchasing an additional 1,885 shares in the last quarter. Pure Financial Advisors LLC grew its holdings in BigBear.ai by 19.4% during the third quarter. Pure Financial Advisors LLC now owns 12,060 shares of the company’s stock valued at $79,000 after purchasing an additional 1,960 shares during the period. Toth Financial Advisory Corp increased its position in BigBear.ai by 20.0% in the third quarter. Toth Financial Advisory Corp now owns 12,000 shares of the company’s stock worth $78,000 after buying an additional 2,000 shares in the last quarter. Finally, Wealthspan Partners LLC increased its position in BigBear.ai by 16.0% in the third quarter. Wealthspan Partners LLC now owns 16,350 shares of the company’s stock worth $107,000 after buying an additional 2,250 shares in the last quarter. Hedge funds and other institutional investors own 7.55% of the company’s stock.

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.