BigCommerce (NASDAQ:BIGC) Trading 8% Higher – Should You Buy?

BigCommerce Holdings, Inc. (NASDAQ:BIGC)’s stock price rose 8% during trading on Wednesday . The company traded as high as $7.99 and last traded at $7.98. Approximately 354,033 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 804,362 shares. The stock had previously closed at $7.39.

Analyst Upgrades and Downgrades

BIGC has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their price objective on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target on shares of BigCommerce in a research report on Thursday, October 3rd. Finally, Bank of America reduced their price target on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.81.

BigCommerce Stock Performance

The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The stock’s 50 day moving average price is $6.02 and its two-hundred day moving average price is $6.71. The firm has a market capitalization of $599.61 million, a PE ratio of -22.17 and a beta of 1.15.

Institutional Trading of BigCommerce

Several hedge funds and other institutional investors have recently bought and sold shares of BIGC. Canada Pension Plan Investment Board purchased a new stake in BigCommerce in the 2nd quarter worth approximately $35,000. Virtu Financial LLC purchased a new stake in shares of BigCommerce during the 3rd quarter valued at $61,000. HighTower Advisors LLC grew its stake in shares of BigCommerce by 16.8% during the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after buying an additional 2,200 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of BigCommerce by 93.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company’s stock valued at $100,000 after acquiring an additional 8,297 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of BigCommerce during the 3rd quarter valued at $105,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

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.