BigBear.ai (NYSE:BBAI) Trading Down 12.9% - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) shares were down 12.9% during trading on Wednesday . The stock traded as low as $3.44 and last traded at $3.45. Approximately 19,723,518 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 36,786,004 shares. The stock had previously closed at $3.96.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $3.50 price target on shares of BigBear.ai in a report on Wednesday, November 6th. HC Wainwright raised 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.

BigBear.ai Price Performance

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 capitalization of $829.44 million, a P/E ratio of -3.64 and a beta of 3.21. The company's 50 day moving average price is $2.79 and its 200 day moving average price is $1.96.

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

Insider Buying and Selling

In other news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 143,713,297 shares in the company, valued at $255,809,668.66. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanda Long sold 66,140 shares of the company's stock in a transaction dated 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 owns 2,445,449 shares of the company's stock, valued at $11,004,520.50. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 849,032 shares of company stock worth $2,184,876 over the last three months. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BigBear.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in shares of BigBear.ai by 160.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company's stock valued at $465,000 after acquiring an additional 189,593 shares during the period. Rhumbline Advisers raised its holdings in BigBear.ai by 206.2% in the second quarter. Rhumbline Advisers now owns 101,963 shares of the company's stock worth $154,000 after purchasing an additional 68,663 shares during the period. XTX Topco Ltd acquired a new stake in BigBear.ai in the second quarter worth $58,000. Bank of Montreal Can grew its holdings 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 buying an additional 643,570 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of 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 buying an additional 23,597 shares in the last quarter. 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.