HC Wainwright Lowers BigBear.ai (NYSE:BBAI) Price Target to $8.00

BigBear.ai (NYSE:BBAI) had its price objective lowered by HC Wainwright from $9.00 to $8.00 in a report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

BigBear.ai Stock Down 15.1%

Shares of NYSE BBAI opened at $6.02 on Tuesday. BigBear.ai has a one year low of $1.21 and a one year high of $10.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The firm’s 50 day simple moving average is $6.11 and its two-hundred day simple moving average is $4.85. The stock has a market capitalization of $1.75 billion, a P/E ratio of -4.18 and a beta of 3.44.

BigBear.ai (NYSE:BBAI) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. BigBear.ai had a negative net margin of 269.28% and a negative return on equity of 68.97%. The business had revenue of $32.47 million for the quarter, compared to analysts’ expectations of $41.18 million. During the same period last year, the business earned ($0.06) earnings per share. The business’s quarterly revenue was down 18.3% on a year-over-year basis. As a group, analysts expect that BigBear.ai will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Dorothy D. Hayes sold 26,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $3.60, for a total value of $93,600.00. Following the transaction, the director owned 255,239 shares in the company, valued at approximately $918,860.40. This trade represents a 9.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Julie Peffer sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $4.40, for a total transaction of $220,000.00. Following the completion of the transaction, the chief financial officer owned 634,153 shares in the company, valued at $2,790,273.20. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Institutional Trading of BigBear.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AE Industrial Partners LP purchased a new stake in BigBear.ai in the fourth quarter worth $284,721,000. Vanguard Group Inc. lifted its stake in BigBear.ai by 9.2% in the first quarter. Vanguard Group Inc. now owns 6,325,571 shares of the company’s stock worth $18,091,000 after acquiring an additional 534,963 shares during the period. Geode Capital Management LLC lifted its position in BigBear.ai by 125.2% during the second quarter. Geode Capital Management LLC now owns 5,074,311 shares of the company’s stock valued at $34,456,000 after buying an additional 2,820,698 shares during the period. JPMorgan Chase & Co. lifted its position in BigBear.ai by 3,252.7% during the second quarter. JPMorgan Chase & Co. now owns 2,398,419 shares of the company’s stock valued at $16,285,000 after buying an additional 2,326,883 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in BigBear.ai by 569.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,340,713 shares of the company’s stock valued at $6,694,000 after buying an additional 1,990,822 shares during the period. Hedge funds and other 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.