BigBear.ai (NYSE:BBAI) Trading Up 6.8% - Here's What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) shot up 6.8% during trading on Wednesday . The company traded as high as $3.69 and last traded at $3.63. 36,128,638 shares were traded during mid-day trading, an increase of 285% from the average session volume of 9,396,235 shares. The stock had previously closed at $3.40.

Wall Street Analyst Weigh In

BBAI has been the subject of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 target price on shares of BigBear.ai in a report on Wednesday, November 6th. Cantor Fitzgerald restated an "overweight" rating and set a $3.50 price target on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Trading Down 7.9 %

The business has a 50 day moving average of $2.12 and a two-hundred day moving average of $1.69. The firm has a market capitalization of $784.33 million, a price-to-earnings ratio of -3.44 and a beta of 3.58. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06.

BigBear.ai (NYSE:BBAI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) EPS for the quarter, beating 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 business had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. During the same quarter in the previous year, the business posted $0.03 EPS. BigBear.ai's quarterly revenue was up 22.1% on a year-over-year basis. Equities analysts predict that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Buying and Selling

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BigBear.ai

Several large investors have recently made changes to their positions in the business. Barclays PLC increased its stake in shares of BigBear.ai by 310.3% during the 3rd quarter. Barclays PLC now owns 141,766 shares of the company's stock worth $208,000 after purchasing an additional 107,214 shares during the last quarter. Geode Capital Management LLC grew its holdings in BigBear.ai by 28.6% during the third quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company's stock valued at $3,152,000 after purchasing an additional 479,401 shares during the period. XTX Topco Ltd grew its holdings in BigBear.ai by 57.9% during the third quarter. XTX Topco Ltd now owns 61,011 shares of the company's stock valued at $89,000 after purchasing an additional 22,363 shares during the period. State Street Corp increased its position in BigBear.ai by 16.8% in the third quarter. State Street Corp now owns 1,864,815 shares of the company's stock worth $2,723,000 after buying an additional 267,673 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of BigBear.ai in the third quarter valued at $61,000. 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.