BigBear.ai (NYSE:BBAI) Stock Price Up 7.8% - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) shares rose 7.8% during trading on Friday . The company traded as high as $3.06 and last traded at $3.04. Approximately 18,697,130 shares traded hands during mid-day trading, an increase of 89% from the average daily volume of 9,873,222 shares. The stock had previously closed at $2.82.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BBAI shares. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 price target on shares of BigBear.ai in a research note on Wednesday, November 6th. Cantor Fitzgerald restated an "overweight" rating and set a $3.50 target price on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Stock Up 10.3 %

The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The company's fifty day moving average price is $2.14 and its 200-day moving average price is $1.69. The stock has a market capitalization of $779.32 million, a PE ratio of -3.42 and a beta of 3.58.

BigBear.ai (NYSE:BBAI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.02. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The company had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. During the same quarter last year, the company earned $0.03 EPS. The firm's revenue for the quarter was up 22.1% on a year-over-year basis. Analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 earnings per share 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 on Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total transaction of $1,019,614.26. Following the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its position in BigBear.ai by 6,435.7% during the second 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 during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 buying an additional 23,597 shares during the period. Rhumbline Advisers boosted its stake in shares of BigBear.ai by 206.2% in the 2nd quarter. Rhumbline Advisers now owns 101,963 shares of the company's stock worth $154,000 after buying an additional 68,663 shares during the last quarter. Sovereign Financial Group Inc. bought a new stake in shares of BigBear.ai in the third quarter worth $36,000. Finally, Koshinski Asset Management Inc. purchased a new stake in BigBear.ai during the third quarter valued at $131,000. 7.55% of the stock is owned by institutional investors.

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.