BigBear.ai (NYSE:BBAI) Shares Gap Down - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $2.95, but opened at $2.83. BigBear.ai shares last traded at $2.97, with a volume of 3,585,757 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BBAI. Cantor Fitzgerald lowered their price objective on BigBear.ai from $8.00 to $6.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Northland Capmk cut BigBear.ai from a "strong-buy" rating to a "hold" rating in a report on Friday, March 7th. Northland Securities lowered BigBear.ai from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $2.50 to $4.00 in a report on Friday, March 7th. Finally, HC Wainwright lowered their target price 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, March 7th.

BigBear.ai Trading Down 6.4 %

The stock has a 50 day moving average of $4.97 and a 200 day moving average of $3.37. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06. The firm has a market cap of $822.22 million, a P/E ratio of -3.13 and a beta of 3.34.

Insider Activity

In other news, CEO Amanda Long sold 66,140 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.50, for a total value of $297,630.00. Following the completion of the sale, the chief executive officer now directly owns 2,445,449 shares in the company, valued at approximately $11,004,520.50. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sean Raymond Ricker sold 36,166 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $3.65, for a total transaction of $132,005.90. Following the completion of the sale, the chief accounting officer now directly owns 223,070 shares of the company's stock, valued at $814,205.50. This trade represents a 13.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,372 shares of company stock worth $435,627. 1.00% of the stock is currently owned by insiders.

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Hedge Funds Weigh In On BigBear.ai

A number of large investors have recently added to or reduced their stakes in BBAI. AE Industrial Partners LP bought a new position in shares of BigBear.ai during the fourth quarter valued at about $284,721,000. TFG Asset Management GP Ltd purchased a new stake in BigBear.ai during the 4th quarter valued at about $4,005,000. Soviero Asset Management LP bought a new position in BigBear.ai during the 4th quarter worth approximately $3,248,000. Geode Capital Management LLC increased its stake in BigBear.ai by 28.6% in 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 during the period. Finally, State Street Corp lifted its position in BigBear.ai by 16.8% in the third quarter. State Street Corp now owns 1,864,815 shares of the company's stock valued at $2,723,000 after purchasing an additional 267,673 shares during 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.