BigCommerce Holdings, Inc. (NASDAQ:BIGC) Short Interest Up 5.9% in October

BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 8,610,000 shares, an increase of 5.9% from the October 15th total of 8,130,000 shares. Approximately 13.7% of the company’s shares are sold short. Based on an average daily volume of 994,000 shares, the short-interest ratio is presently 8.7 days.

BigCommerce Stock Down 1.0 %

Shares of BIGC stock traded down $0.06 during trading hours on Monday, reaching $5.99. The company had a trading volume of 549,602 shares, compared to its average volume of 792,540. The company has a market cap of $469.50 million, a price-to-earnings ratio of -16.81 and a beta of 0.99. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. BigCommerce has a 12 month low of $5.13 and a 12 month high of $10.19. The business has a fifty day simple moving average of $5.76 and a 200-day simple moving average of $6.73.

Hedge Funds Weigh In On BigCommerce

A number of hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in shares of BigCommerce during the second quarter valued at about $35,000. Acadian Asset Management LLC purchased a new stake in BigCommerce in the 1st quarter valued at about $80,000. AQR Capital Management LLC bought a new position in shares of BigCommerce during the 2nd quarter worth approximately $121,000. Virtu Financial LLC purchased a new position in shares of BigCommerce in the 1st quarter worth approximately $104,000. Finally, HighTower Advisors LLC grew its holdings in shares of BigCommerce by 16.8% in the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after acquiring an additional 2,200 shares in the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays decreased their target price 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. Bank of America lowered their price objective on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus dropped their target price on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of BigCommerce in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, BigCommerce currently has an average rating of “Hold” and an average target price of $8.81.

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.