BigBear.ai (NYSE:BBAI) Shares Down 8.5% Following Insider Selling

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price was down 8.5% on Friday after an insider sold shares in the company. The stock traded as low as $3.84 and last traded at $4.07. Approximately 38,437,441 shares were traded during trading, an increase of 257% from the average daily volume of 10,779,790 shares. The stock had previously closed at $4.45.

Specifically, CEO Amanda Long sold 200,000 shares of BigBear.ai stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $4.25, for a total value of $850,000.00. Following the sale, the chief executive officer now owns 2,583,254 shares of the company’s stock, valued at $10,978,829.50. This trade represents a 7.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BBAI shares. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of BigBear.ai in a report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.50 target price on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Price Performance

The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -4.54 and a beta of 3.58. 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 company has a 50-day simple moving average of $2.33 and a two-hundred day simple moving average of $1.77.

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

Hedge Funds Weigh In On BigBear.ai

A number of institutional investors have recently bought and sold shares of the business. Sovereign Financial Group Inc. bought a new position in shares of BigBear.ai during the 3rd quarter worth approximately $36,000. XTX Topco Ltd bought a new position in shares of BigBear.ai in the second quarter valued at about $58,000. Intech Investment Management LLC acquired a new stake in shares of BigBear.ai during the 3rd quarter worth about $61,000. The Manufacturers Life Insurance Company boosted its holdings in shares of BigBear.ai by 135.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock worth $62,000 after buying an additional 23,597 shares during the period. Finally, Fortis Group Advisors LLC grew its stake in BigBear.ai by 26.9% in the 2nd quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock valued at $101,000 after buying an additional 14,134 shares during the last quarter. Institutional investors and hedge funds own 7.55% of the company’s stock.

BigBear.ai Company Profile

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.