BigBear.ai (NYSE:BBAI) Stock Price Up 1.3% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price shot up 1.3% on Friday . The company traded as high as $4.40 and last traded at $4.21. 16,547,621 shares were traded during mid-day trading, a decline of 52% from the average session volume of 34,569,797 shares. The stock had previously closed at $4.15.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BBAI shares. HC Wainwright lifted their target price 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 restated an “overweight” rating and set a $3.50 price objective on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Stock Performance

The company’s fifty day simple moving average is $3.04 and its two-hundred day simple moving average is $2.06. The company has a market capitalization of $985.32 million, a price-to-earnings ratio of -4.32 and a beta of 3.21. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06.

BigBear.ai (NYSE:BBAI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) EPS for the quarter, topping 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 business had revenue of $41.51 million during the quarter, compared to the consensus estimate of $45.04 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities research analysts predict that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Activity at BigBear.ai

In related news, CEO Amanda Long sold 66,140 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.50, for a total transaction of $297,630.00. Following the completion of the sale, the chief executive officer now owns 2,445,449 shares of the company’s stock, valued at $11,004,520.50. This represents a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sovereign Financial Group Inc. acquired a new stake in shares of BigBear.ai during the 3rd quarter worth approximately $36,000. Simon Quick Advisors LLC acquired a new stake in BigBear.ai in the fourth quarter worth $44,000. XTX Topco Ltd bought a new stake in BigBear.ai in the second quarter valued at $58,000. Intech Investment Management LLC bought a new stake in BigBear.ai in the third quarter valued at $61,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of BigBear.ai by 135.0% during the second quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock valued at $62,000 after acquiring an additional 23,597 shares during the period. 7.55% of the stock is currently owned by institutional investors and hedge funds.

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.