BigBear.ai (NYSE:BBAI) Shares Up 6.7% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price shot up 6.7% on Friday . The company traded as high as $4.43 and last traded at $4.50. 9,327,708 shares changed hands during trading, a decline of 73% from the average session volume of 34,660,602 shares. The stock had previously closed at $4.22.

Analyst Ratings Changes

A number of research firms have recently weighed in on BBAI. HC Wainwright increased their target price on shares of 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 target price on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Trading Up 2.0 %

The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock’s fifty day moving average price is $3.24 and its two-hundred day moving average price is $2.13. The company has a market capitalization of $1.08 billion, a PE ratio of -4.74 and a beta of 3.21.

BigBear.ai (NYSE:BBAI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) EPS 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 business had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. During the same period last year, the business posted $0.03 earnings per share. BigBear.ai’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Activity

In other news, CEO Amanda Long sold 66,140 shares of BigBear.ai stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.50, for a total transaction of $297,630.00. Following the completion of the transaction, the chief executive officer now directly owns 2,445,449 shares in the company, valued at approximately $11,004,520.50. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sean Bernard Battle sold 44,813 shares of BigBear.ai stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $4.46, for a total transaction of $199,865.98. Following the transaction, the director now owns 137,838 shares of the company’s stock, valued at $614,757.48. The trade was a 24.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 310,953 shares of company stock worth $1,347,496. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Several institutional investors and hedge funds have recently made changes to their positions in BBAI. Sovereign Financial Group Inc. purchased a new position in shares of BigBear.ai during the 3rd quarter worth $36,000. Simon Quick Advisors LLC purchased a new position in shares of BigBear.ai during the 4th quarter valued at $44,000. Bay Rivers Group purchased a new stake in BigBear.ai in the 4th quarter worth $48,000. XTX Topco Ltd purchased a new stake in BigBear.ai in the 2nd quarter worth $58,000. Finally, Intech Investment Management LLC purchased a new stake in BigBear.ai in the 3rd quarter worth $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.