BigCommerce (NASDAQ:BIGC) Trading 8% Higher – Here’s What Happened

BigCommerce Holdings, Inc. (NASDAQ:BIGC) shares traded up 8% during mid-day trading on Wednesday . The stock traded as high as $7.99 and last traded at $7.98. 354,033 shares traded hands during trading, a decline of 56% from the average session volume of 804,362 shares. The stock had previously closed at $7.39.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Bank of America cut their price objective on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus cut their price objective on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Needham & Company LLC restated a “buy” rating and set a $14.00 price objective on shares of BigCommerce in a report on Thursday, October 3rd. Finally, Barclays upped their price objective on shares of BigCommerce from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.94.

BigCommerce Stock Performance

The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The firm’s 50 day simple moving average is $6.09 and its 200-day simple moving average is $6.72. The company has a market cap of $612.93 million, a price-to-earnings ratio of -20.92 and a beta of 1.15.

Institutional Investors Weigh In On BigCommerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Divisar Capital Management LLC purchased a new position in shares of BigCommerce during the 2nd quarter worth $4,274,000. Clearline Capital LP raised its holdings in BigCommerce by 27.3% in the 2nd quarter. Clearline Capital LP now owns 949,931 shares of the company’s stock valued at $7,656,000 after buying an additional 203,785 shares during the period. Algert Global LLC raised its holdings in BigCommerce by 89.4% in the 2nd quarter. Algert Global LLC now owns 267,850 shares of the company’s stock valued at $2,159,000 after buying an additional 126,443 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in BigCommerce by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock valued at $350,000 after buying an additional 3,188 shares during the period. Finally, 272 Capital LP raised its holdings in BigCommerce by 40.0% in the 2nd quarter. 272 Capital LP now owns 884,750 shares of the company’s stock valued at $7,131,000 after buying an additional 252,946 shares during the period. Institutional investors and hedge funds own 79.21% of the company’s stock.

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.