BigCommerce Holdings, Inc. (NASDAQ:BIGC) Sees Significant Decline in Short Interest

BigCommerce Holdings, Inc. (NASDAQ:BIGC - Get Free Report) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 5,570,000 shares, a decline of 14.6% from the December 31st total of 6,520,000 shares. Currently, 8.8% of the shares of the company are sold short. Based on an average trading volume of 901,100 shares, the short-interest ratio is presently 6.2 days.

BigCommerce Price Performance

Shares of BIGC traded up $0.32 on Tuesday, reaching $6.58. The stock had a trading volume of 763,558 shares, compared to its average volume of 726,603. BigCommerce has a twelve month low of $5.13 and a twelve month high of $8.98. The firm has a market capitalization of $515.74 million, a PE ratio of -18.28 and a beta of 1.18. The firm has a 50-day moving average of $6.60 and a 200 day moving average of $6.26. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BIGC. Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of BigCommerce in a research report on Monday, December 9th. Barclays cut BigCommerce from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $8.00 to $7.00 in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $8.31.

Institutional Trading of BigCommerce

Several large investors have recently bought and sold shares of BIGC. The Manufacturers Life Insurance Company boosted its position in shares of BigCommerce by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,167 shares of the company's stock worth $219,000 after buying an additional 2,056 shares in the last quarter. HighTower Advisors LLC raised its position in BigCommerce by 16.8% during the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company's stock worth $89,000 after acquiring an additional 2,200 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of BigCommerce by 105.3% in the fourth quarter. New York State Common Retirement Fund now owns 8,579 shares of the company's stock valued at $53,000 after purchasing an additional 4,400 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of BigCommerce by 93.4% in the third quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company's stock valued at $100,000 after purchasing an additional 8,297 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of BigCommerce during the 3rd quarter worth approximately $61,000. Institutional investors and hedge funds own 79.21% of the company's stock.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.