BigBear.ai (NYSE:BBAI) Shares Down 3.5% - Here's What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report)'s stock price dropped 3.5% during mid-day trading on Tuesday . The company traded as low as $8.50 and last traded at $8.71. Approximately 32,075,530 shares changed hands during trading, a decline of 54% from the average daily volume of 69,444,023 shares. The stock had previously closed at $9.02.

Wall Street Analysts Forecast Growth

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

BigBear.ai Stock Performance

The stock has a 50-day simple moving average of $4.91 and a 200-day simple moving average of $2.85. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -7.47 and a beta of 3.17. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08.

Insider Buying and Selling at BigBear.ai

In related news, CEO Amanda Long sold 200,000 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sean Bernard Battle sold 44,813 shares of the company'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 value of $199,865.98. Following the sale, the director now directly owns 137,838 shares in the company, valued at approximately $614,757.48. This represents a 24.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 310,953 shares of company stock valued at $1,347,496 in the last three months. Corporate insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BBAI. Cape Investment Advisory Inc. bought a new position in BigBear.ai during the 4th quarter worth $40,000. Simon Quick Advisors LLC bought a new position in BigBear.ai during the 4th quarter worth $44,000. Captrust Financial Advisors bought a new position in BigBear.ai during the 4th quarter worth $45,000. Retirement Income Solutions Inc bought a new position in BigBear.ai during the 4th quarter worth $47,000. Finally, Bay Rivers Group bought a new position in BigBear.ai during the 4th quarter worth $48,000. 7.55% of the stock is currently 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.