BigCommerce Holdings, Inc. (NASDAQ:BIGC) Sees Significant Drop in Short Interest

BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 8,500,000 shares, a decrease of 5.8% from the August 31st total of 9,020,000 shares. Currently, 13.6% of the shares of the company are short sold. Based on an average trading volume of 823,600 shares, the days-to-cover ratio is currently 10.3 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC lifted its position in shares of BigCommerce by 222.0% in the first quarter. Susquehanna Fundamental Investments LLC now owns 124,498 shares of the company’s stock valued at $858,000 after acquiring an additional 85,840 shares in the last quarter. Vanguard Group Inc. raised its stake in BigCommerce by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock valued at $94,438,000 after purchasing an additional 762,437 shares during the period. Cadian Capital Management LP lifted its holdings in BigCommerce by 13.6% in the 4th quarter. Cadian Capital Management LP now owns 7,553,280 shares of the company’s stock worth $73,493,000 after purchasing an additional 904,750 shares in the last quarter. Norges Bank bought a new position in BigCommerce in the 4th quarter worth approximately $10,236,000. Finally, Divisar Capital Management LLC purchased a new stake in BigCommerce during the 2nd quarter valued at approximately $4,274,000. Institutional investors own 79.21% of the company’s stock.

BigCommerce Trading Down 2.4 %

Shares of NASDAQ:BIGC opened at $5.71 on Wednesday. The stock has a 50 day moving average of $6.14 and a 200 day moving average of $6.90. The company has a market cap of $441.24 million, a PE ratio of -8.92 and a beta of 0.98. BigCommerce has a 12-month low of $5.35 and a 12-month high of $10.29. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 13.04.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $81.83 million during the quarter, compared to analyst estimates of $81.13 million. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, equities research analysts expect that BigCommerce will post -0.3 EPS for the current year.

Analysts Set New Price Targets

BIGC has been the subject of a number of recent research reports. Barclays cut their price target on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of BigCommerce in a research report on Wednesday, August 28th. Finally, Bank of America reduced their target price on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, BigCommerce currently has an average rating of “Hold” and an average target price of $8.93.

About BigCommerce

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.