BigBear.ai (NYSE:BBAI) Shares Gap Up - Here's Why

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $3.11, but opened at $3.20. BigBear.ai shares last traded at $3.23, with a volume of 15,323,596 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BBAI shares. HC Wainwright reaffirmed a "buy" rating and set a $3.00 price target on shares of BigBear.ai in a research report on Wednesday, November 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $3.50 price target on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Trading Up 2.6 %

The stock has a 50 day moving average of $2.17 and a 200-day moving average of $1.71. The company has a market capitalization of $799.37 million, a P/E ratio of -3.51 and a beta of 3.58. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08.

BigBear.ai (NYSE:BBAI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.02. The firm had revenue of $41.51 million during the quarter, compared to analysts' expectations of $45.04 million. BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The company's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 earnings per share. On average, research analysts predict that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Activity

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of BigBear.ai stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total value of $1,019,614.26. Following the sale, the director now directly owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. The trade was a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sovereign Financial Group Inc. bought a new position in BigBear.ai during the third quarter valued at approximately $36,000. XTX Topco Ltd purchased a new position in shares of BigBear.ai in the second quarter valued at $58,000. Intech Investment Management LLC bought a new stake in BigBear.ai in the third quarter worth $61,000. The Manufacturers Life Insurance Company raised its stake in BigBear.ai by 135.0% during the second 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 in the last quarter. Finally, Fortis Group Advisors LLC raised its stake in BigBear.ai by 26.9% during the second 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 in the last quarter. 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.