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

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $2.98, but opened at $3.17. BigBear.ai shares last traded at $3.17, with a volume of 4,174,028 shares traded.

Analyst Upgrades and Downgrades

BBAI has been the topic of several recent analyst reports. HC Wainwright lifted their target price on BigBear.ai from $3.00 to $7.00 and gave the company a "buy" rating in a research note on Monday, December 30th. 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 Price Performance

The firm has a market capitalization of $796.86 million, a PE ratio of -3.49 and a beta of 3.21. 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 stock has a fifty day moving average price of $2.89 and a 200-day moving average price of $2.00.

BigBear.ai (NYSE:BBAI - Get Free Report) last issued 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. 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 for the quarter, compared to the consensus estimate of $45.04 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The company's quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity at BigBear.ai

In other news, CEO Amanda Long sold 66,140 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.50, for a total value of $297,630.00. Following the completion of the transaction, the chief executive officer now directly owns 2,445,449 shares in the company, valued at $11,004,520.50. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 276,215 shares of company stock valued at $1,165,261 in the last three months. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On BigBear.ai

Institutional investors have recently modified their holdings of the stock. State Street Corp grew its position in BigBear.ai by 16.8% during the third quarter. State Street Corp now owns 1,864,815 shares of the company's stock valued at $2,723,000 after buying an additional 267,673 shares during the period. Geode Capital Management LLC boosted its stake in shares of 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 acquiring an additional 479,401 shares in the last quarter. Barclays PLC grew its position in shares of BigBear.ai by 310.3% during the 3rd quarter. Barclays PLC now owns 141,766 shares of the company's stock valued at $208,000 after acquiring an additional 107,214 shares during the period. Bank of Montreal Can increased its stake in shares of BigBear.ai by 6,435.7% in the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company's stock valued at $1,006,000 after purchasing an additional 643,570 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings 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 worth $62,000 after purchasing an additional 23,597 shares during the period. 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.