BigBear.ai (NYSE:BBAI) Shares Down 3.5% After Analyst Downgrade

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) dropped 3.5% during mid-day trading on Wednesday after HC Wainwright lowered their price target on the stock from $9.00 to $8.00. HC Wainwright currently has a buy rating on the stock. BigBear.ai traded as low as $5.63 and last traded at $5.76. Approximately 36,254,987 shares traded hands during trading, a decline of 59% from the average daily volume of 88,800,352 shares. The stock had previously closed at $5.97.

Insiders Place Their Bets

In related news, CFO Julie Peffer sold 50,000 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $4.40, for a total value of $220,000.00. Following the completion of the transaction, the chief financial officer owned 634,153 shares of the company’s stock, valued at approximately $2,790,273.20. This represents a 7.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of BigBear.ai

Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its stake in BigBear.ai by 60.5% in the 2nd quarter. California State Teachers Retirement System now owns 273,527 shares of the company’s stock worth $1,857,000 after purchasing an additional 103,135 shares in the last quarter. Raymond James Financial Inc. lifted its stake in BigBear.ai by 73.1% in the 2nd quarter. Raymond James Financial Inc. now owns 280,063 shares of the company’s stock worth $1,902,000 after purchasing an additional 118,279 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BigBear.ai by 347.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,041,444 shares of the company’s stock worth $13,861,000 after purchasing an additional 1,584,783 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in BigBear.ai in the 2nd quarter worth $136,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of BigBear.ai by 162.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 102,671 shares of the company’s stock valued at $697,000 after buying an additional 63,568 shares in the last quarter. Hedge funds and other institutional investors own 7.55% of the company’s stock.

BigBear.ai Price Performance

The firm’s 50-day moving average price is $6.18 and its 200-day moving average price is $4.87. The company has a current ratio of 1.91, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.70 billion, a PE ratio of -4.06 and a beta of 3.44.

BigBear.ai (NYSE:BBAI) last announced its earnings results on Monday, August 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $32.47 million for the quarter, compared to analysts’ expectations of $41.18 million. BigBear.ai had a negative net margin of 269.28% and a negative return on equity of 48.11%. The business’s revenue was down 18.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. On average, equities analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

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.