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

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares gapped up before the market opened on Monday . The stock had previously closed at $2.45, but opened at $2.60. BigBear.ai shares last traded at $2.51, with a volume of 3,927,869 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BBAI. Cantor Fitzgerald restated an “overweight” rating and issued a $3.50 price target on shares of BigBear.ai in a research note on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Stock Performance

The stock has a 50 day simple moving average of $1.69 and a 200-day simple moving average of $1.54. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08.

BigBear.ai (NYSE:BBAI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The company had revenue of $41.51 million for the quarter, compared to analysts’ expectations of $45.04 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. BigBear.ai’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities analysts expect that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of BigBear.ai stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total transaction of $1,019,614.26. Following the completion of the transaction, the director now directly owns 143,713,297 shares of the company’s stock, valued at $255,809,668.66. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BigBear.ai

Several hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new position in shares of BigBear.ai during the first quarter valued at approximately $31,000. Baader Bank Aktiengesellschaft purchased a new stake in BigBear.ai in the second quarter worth $32,000. Sovereign Financial Group Inc. bought a new stake in shares of BigBear.ai during the third quarter worth $36,000. Keynote Financial Services LLC purchased a new stake in shares of BigBear.ai during the first quarter valued at $45,000. Finally, American International Group Inc. grew its holdings in shares of BigBear.ai by 75.4% in the first quarter. American International Group Inc. now owns 25,539 shares of the company’s stock worth $52,000 after purchasing an additional 10,982 shares during the last quarter. 7.55% of the stock is currently owned by institutional investors.

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.