BigBear.ai (NYSE:BBAI) Shares Up 6% - Here's Why

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s stock price rose 6% during trading on Tuesday . The stock traded as high as $3.31 and last traded at $3.16. Approximately 10,422,412 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 33,793,523 shares. The stock had previously closed at $2.98.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBAI. Cantor Fitzgerald reiterated an "overweight" rating and set a $3.50 price target on shares of BigBear.ai in a research report on Wednesday, November 6th. HC Wainwright lifted their price objective on BigBear.ai from $3.00 to $7.00 and gave the company a "buy" rating in a research report on Monday, December 30th.

BigBear.ai Stock 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 company has a market capitalization of $1.03 billion, a PE ratio of -4.54 and a beta of 3.21. The company has a 50 day moving average of $2.95 and a two-hundred day moving average of $2.02.

BigBear.ai (NYSE:BBAI - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. During the same period last year, the business earned $0.03 EPS. BigBear.ai's quarterly revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts predict that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Buying and Selling at BigBear.ai

In other news, CEO Amanda Long sold 200,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total value of $850,000.00. Following the sale, the chief executive officer now directly owns 2,583,254 shares of the company's stock, valued at approximately $10,978,829.50. This represents a 7.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company's stock.

Institutional Trading of BigBear.ai

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in BigBear.ai by 160.5% in the second quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company's stock worth $465,000 after buying an additional 189,593 shares during the last quarter. Rhumbline Advisers increased its position in shares of BigBear.ai by 206.2% during the second quarter. Rhumbline Advisers now owns 101,963 shares of the company's stock valued at $154,000 after acquiring an additional 68,663 shares in the last quarter. XTX Topco Ltd purchased a new position in BigBear.ai in the 2nd quarter worth approximately $58,000. Bank of Montreal Can lifted its position in 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 acquiring an additional 643,570 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in BigBear.ai by 135.0% during the 2nd 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 during the last quarter. 7.55% of the stock is owned by hedge funds and other institutional investors.

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.

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