BigBear.ai (NYSE:BBAI) Stock Price Down 7% - Here's Why

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) was down 7% during mid-day trading on Thursday . The company traded as low as $2.80 and last traded at $2.91. Approximately 50,596,940 shares traded hands during trading, an increase of 421% from the average daily volume of 9,703,420 shares. The stock had previously closed at $3.13.

Analysts Set New Price Targets

Several brokerages have issued reports on BBAI. HC Wainwright reissued a "buy" rating and issued a $3.00 price objective on shares of BigBear.ai in a research note on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $3.50 price objective on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Stock Performance

The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock has a fifty day moving average price of $2.14 and a two-hundred day moving average price of $1.69. The company has a market capitalization of $706.65 million, a price-to-earnings ratio of -3.10 and a beta of 3.58.

BigBear.ai (NYSE:BBAI - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.02. BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The firm had revenue of $41.51 million during the quarter, compared to the consensus estimate of $45.04 million. During the same period in the previous year, the firm earned $0.03 earnings per share. BigBear.ai's revenue was up 22.1% compared to the same quarter last year. As a group, analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of BigBear.ai stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total value of $1,019,614.26. Following the completion of the transaction, the director now owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. This trade represents a 0.40 % 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. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BigBear.ai

Large investors have recently added to or reduced their stakes in the company. Sovereign Financial Group Inc. acquired a new stake in shares of BigBear.ai during the 3rd quarter worth approximately $36,000. XTX Topco Ltd bought a new position in shares of BigBear.ai during the second quarter worth about $58,000. Intech Investment Management LLC acquired a new stake in shares of BigBear.ai in the 3rd quarter worth about $61,000. The Manufacturers Life Insurance Company lifted its position in BigBear.ai by 135.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company's stock valued at $62,000 after purchasing an additional 23,597 shares during the last quarter. Finally, Fortis Group Advisors LLC boosted its stake in BigBear.ai by 26.9% during the 2nd quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company's stock valued at $101,000 after purchasing an additional 14,134 shares during the period. 7.55% of the stock is currently 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.