Short Interest in BigCommerce Holdings, Inc. (NASDAQ:BIGC) Decreases By 7.1%

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 9,020,000 shares, a decrease of 7.1% from the August 15th total of 9,710,000 shares. Approximately 14.5% of the shares of the company are short sold. Based on an average trading volume of 684,600 shares, the short-interest ratio is presently 13.2 days.

Institutional Investors Weigh In On BigCommerce

Institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in BigCommerce during the 2nd quarter worth approximately $35,000. Acadian Asset Management LLC purchased a new position in shares of BigCommerce during the 1st quarter valued at $80,000. Virtu Financial LLC purchased a new position in shares of BigCommerce during the 1st quarter valued at $104,000. AQR Capital Management LLC bought a new position in shares of BigCommerce in the second quarter worth $121,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of BigCommerce in the first quarter worth $144,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BIGC shares. Bank of America decreased their price target 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. 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 report on Monday, August 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of BigCommerce in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.31.

BigCommerce Stock Performance

BIGC stock traded up $0.20 during midday trading on Tuesday, reaching $5.95. 111,806 shares of the company’s stock traded hands, compared to its average volume of 712,789. The firm has a market capitalization of $459.79 million, a PE ratio of -8.98 and a beta of 0.98. The company has a 50-day moving average price of $6.58 and a two-hundred day moving average price of $7.01. BigCommerce has a 52 week low of $5.35 and a 52 week high of $10.48. The company has a debt-to-equity ratio of 13.04, a quick ratio of 4.51 and a current ratio of 4.51.

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

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.