BigBear.ai (NYSE:BBAI) Stock Price Down 3.2% - Here's Why

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s share price dropped 3.2% during trading on Tuesday . The stock traded as low as $8.37 and last traded at $8.44. Approximately 64,080,898 shares traded hands during trading, an increase of 2% from the average daily volume of 62,724,164 shares. The stock had previously closed at $8.72.

Wall Street Analysts Forecast Growth

BBAI has been the topic of several research analyst reports. HC Wainwright raised their target price on shares of 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 reaffirmed an "overweight" rating and issued a $3.50 price objective on shares of BigBear.ai in a research note on Wednesday, November 6th.

BigBear.ai Stock Down 7.8 %

The firm's fifty day simple moving average is $4.50 and its 200 day simple moving average is $2.67. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08.

Insiders Place Their Bets

In related news, Director Sean Bernard Battle sold 44,813 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $4.46, for a total transaction of $199,865.98. Following the completion of the sale, the director now directly owns 137,838 shares in the company, valued at approximately $614,757.48. This trade represents a 24.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Amanda Long sold 200,000 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $4.25, for a total transaction of $850,000.00. Following the transaction, the chief executive officer now directly owns 2,583,254 shares in the company, valued at approximately $10,978,829.50. The trade was a 7.19 % 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 ninety days. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BigBear.ai

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp raised its position in BigBear.ai by 10.5% during the fourth quarter. Northern Trust Corp now owns 839,503 shares of the company's stock valued at $3,736,000 after acquiring an additional 79,593 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in BigBear.ai by 21.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,966 shares of the company's stock worth $178,000 after buying an additional 7,177 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of BigBear.ai by 219.6% in the 4th quarter. MetLife Investment Management LLC now owns 63,378 shares of the company's stock worth $282,000 after purchasing an additional 43,547 shares during the last quarter. NewEdge Advisors LLC grew its holdings in BigBear.ai by 956.5% during the 4th quarter. NewEdge Advisors LLC now owns 13,735 shares of the company's stock worth $61,000 after acquiring an additional 12,435 shares during the last quarter. Finally, Barclays PLC lifted its position in BigBear.ai by 13.9% during the 4th quarter. Barclays PLC now owns 161,457 shares of the company's stock valued at $718,000 after purchasing an additional 19,691 shares during the period. 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.