BigBear.ai (NYSE:BBAI) Trading Down 3.5% - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s share price dropped 3.5% during mid-day trading on Tuesday . The stock traded as low as $8.50 and last traded at $8.71. Approximately 32,075,530 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 69,444,023 shares. The stock had previously closed at $9.02.

Analysts Set New Price Targets

BBAI has been the topic of several analyst reports. HC Wainwright boosted their price target on shares of BigBear.ai from $3.00 to $7.00 and gave the company a "buy" rating in a report on Monday, December 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $3.50 target price on shares of BigBear.ai in a research note on Wednesday, November 6th.

BigBear.ai Price Performance

The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06. The company's 50 day moving average price is $4.91 and its 200 day moving average price is $2.85. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -7.47 and a beta of 3.17.

Insider Activity

In other news, Director Sean Bernard Battle sold 44,813 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total value 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. This represents a 24.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Amanda Long sold 200,000 shares of the company's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $4.25, for a total value of $850,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,583,254 shares of the company's stock, valued at approximately $10,978,829.50. This trade represents a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 310,953 shares of company stock worth $1,347,496. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of BigBear.ai

Large investors have recently bought and sold shares of the business. State Street Corp increased its stake in BigBear.ai by 16.8% during the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company's stock worth $2,723,000 after purchasing an additional 267,673 shares in the last quarter. Geode Capital Management LLC increased its stake in BigBear.ai by 28.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company's stock worth $3,152,000 after purchasing an additional 479,401 shares in the last quarter. Barclays PLC increased its stake in BigBear.ai by 310.3% during the 3rd quarter. Barclays PLC now owns 141,766 shares of the company's stock worth $208,000 after purchasing an additional 107,214 shares in the last quarter. Sargent Investment Group LLC bought a new stake in BigBear.ai during the 4th quarter worth approximately $1,028,000. Finally, Grove Bank & Trust increased its stake in BigBear.ai by 9,172.7% during the 4th quarter. Grove Bank & Trust now owns 102,000 shares of the company's stock worth $454,000 after purchasing an additional 100,900 shares in the last quarter. 7.55% of the stock is owned by institutional investors.

BigBear.ai Company Profile

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.