BigBear.ai (NYSE:BBAI) Shares Gap Down – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $3.96, but opened at $3.72. BigBear.ai shares last traded at $3.58, with a volume of 8,609,210 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. HC Wainwright boosted their price target on BigBear.ai from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.50 price objective on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Price Performance

The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06. The firm’s fifty day simple moving average is $2.82 and its 200 day simple moving average is $1.97. The firm has a market cap of $816.91 million, a P/E ratio of -3.58 and a beta of 3.21.

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

Insider Buying and Selling

In other news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total value of $1,019,614.26. Following the completion of the sale, the director now owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanda Long sold 200,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were 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 in the company, valued at $10,978,829.50. The trade was a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 849,032 shares of company stock worth $2,184,876. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Barclays PLC increased its stake in BigBear.ai by 310.3% in the third quarter. Barclays PLC now owns 141,766 shares of the company’s stock worth $208,000 after purchasing an additional 107,214 shares during the period. Geode Capital Management LLC grew its holdings in shares of BigBear.ai by 28.6% in the third quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock worth $3,152,000 after purchasing an additional 479,401 shares during the last quarter. XTX Topco Ltd increased its stake in BigBear.ai by 57.9% in the 3rd quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock worth $89,000 after buying an additional 22,363 shares during the period. State Street Corp lifted its holdings in BigBear.ai by 16.8% during the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock valued at $2,723,000 after buying an additional 267,673 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in BigBear.ai in the 3rd quarter valued at about $61,000. Institutional investors own 7.55% of the company’s stock.

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.