BigBear.ai (NYSE:BBAI) Stock Price Up 18.1% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price shot up 18.1% during trading on Tuesday . The company traded as high as $5.07 and last traded at $5.00. 35,697,069 shares were traded during mid-day trading, an increase of 6% from the average session volume of 33,672,082 shares. The stock had previously closed at $4.23.

Analysts Set New Price Targets

A number of research firms have recently commented on BBAI. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.50 price objective on shares of BigBear.ai in a research note on Wednesday, November 6th. HC Wainwright upped their price objective on shares of BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 30th.

BigBear.ai Stock Performance

The firm has a market capitalization of $1.24 billion, a P/E ratio of -5.42 and a beta of 3.17. The company’s 50 day moving average is $3.50 and its 200-day moving average is $2.26. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08.

BigBear.ai (NYSE:BBAI) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm had revenue of $41.51 million for the quarter, compared to the consensus estimate of $45.04 million. BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. As a group, equities analysts anticipate that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On BigBear.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBAI. Sovereign Financial Group Inc. bought a new position in BigBear.ai during the third quarter worth about $36,000. Simon Quick Advisors LLC bought a new position in shares of BigBear.ai in the fourth quarter valued at approximately $44,000. Retirement Income Solutions Inc bought a new stake in BigBear.ai during the fourth quarter valued at approximately $47,000. Bay Rivers Group purchased a new position in shares of BigBear.ai during the fourth quarter worth approximately $48,000. Finally, Intech Investment Management LLC purchased a new position in shares of BigBear.ai during the third quarter worth approximately $61,000. Institutional investors own 7.55% of the company’s stock.

BigBear.ai Company Profile

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.