BigBear.ai (NYSE:BBAI) Stock Price Down 7.8% - Here's What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) traded down 7.8% during mid-day trading on Thursday . The company traded as low as $4.26 and last traded at $4.43. 18,271,146 shares changed hands during trading, a decline of 12% from the average session volume of 20,745,740 shares. The stock had previously closed at $4.80.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BBAI. Northland Capmk downgraded BigBear.ai from a "strong-buy" rating to a "hold" rating in a research note on Friday. Northland Securities lowered shares of BigBear.ai from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $2.50 to $4.00 in a research report on Friday. HC Wainwright lowered their price target on shares of BigBear.ai from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald reduced their price objective on shares of BigBear.ai from $8.00 to $6.00 and set an "overweight" rating for the company in a research note on Friday.

BigBear.ai Stock Performance

The firm has a fifty day moving average of $5.23 and a 200-day moving average of $3.18. 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 market capitalization of $910.14 million, a price-to-earnings ratio of -3.51 and a beta of 3.12.

Insider Activity

In related news, CEO Amanda Long sold 200,000 shares of BigBear.ai stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total transaction of $850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,583,254 shares in the company, valued at $10,978,829.50. The trade was a 7.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sean Bernard Battle sold 44,813 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.46, for a total value of $199,865.98. Following the sale, the director now owns 137,838 shares in the company, valued at approximately $614,757.48. This trade represents a 24.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 310,953 shares of company stock worth $1,347,496 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

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Institutional Trading of BigBear.ai

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBAI. Cape Investment Advisory Inc. purchased a new position in BigBear.ai in the 4th quarter valued at about $40,000. Simon Quick Advisors LLC purchased a new position in shares of BigBear.ai during the fourth quarter valued at approximately $44,000. Captrust Financial Advisors acquired a new stake in BigBear.ai during the fourth quarter worth approximately $45,000. Retirement Income Solutions Inc purchased a new stake in BigBear.ai in the 4th quarter worth approximately $47,000. Finally, Bay Rivers Group acquired a new position in BigBear.ai in the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 7.55% of the company's stock.

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.