BigBear.ai (NYSE:BBAI) Trading Down 2.9% - Here's Why

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) dropped 2.9% on Friday . The company traded as low as $7.15 and last traded at $7.30. Approximately 16,388,177 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 68,138,852 shares. The stock had previously closed at $7.51.

Analyst Upgrades and Downgrades

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

BigBear.ai Stock Down 9.5 %

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 business's 50 day moving average price is $5.00 and its 200 day moving average price is $2.89. The firm has a market cap of $1.71 billion, a PE ratio of -7.47 and a beta of 3.17.

Insiders Place Their Bets

In other BigBear.ai news, Director Sean Bernard Battle sold 44,813 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total transaction of $199,865.98. Following the transaction, the director now owns 137,838 shares of the company's stock, valued at approximately $614,757.48. The trade was a 24.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Amanda Long sold 200,000 shares of the company's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $4.25, for a total value of $850,000.00. Following the completion of the sale, the chief executive officer now owns 2,583,254 shares of the company's stock, valued at approximately $10,978,829.50. The trade was a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 310,953 shares of company stock worth $1,347,496. Corporate insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. TFG Asset Management GP Ltd acquired a new position in BigBear.ai in the 4th quarter valued at about $4,005,000. Soviero Asset Management LP purchased a new position in shares of BigBear.ai during the fourth quarter worth $3,248,000. Two Sigma Investments LP acquired a new stake in shares of BigBear.ai in the fourth quarter valued at $70,000. ProShare Advisors LLC raised its holdings in shares of BigBear.ai by 51.5% in the 4th quarter. ProShare Advisors LLC now owns 29,077 shares of the company's stock valued at $129,000 after buying an additional 9,879 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BigBear.ai by 21.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 296,565 shares of the company's stock worth $1,320,000 after acquiring an additional 51,377 shares in the last quarter. Institutional investors and hedge funds 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.